At-a-Glance
Key Takeaways with Craig
The precious metals complex is mixed today, with the Gold market dropping over 3% and Silver being up over 2%. On a daily chart, Gold had reached a new all time high yesterday and is seeing selling pressure today after strong gains for nearly 2 weeks. The Gold and Silver market can be correlated due to the fact that they are both in the precious metals asset class, but as traders are seeing today, these markets can trade in different directions as Silver is pushing up towards the recent high near $35. The changing tariff environment also is having an impact on these prices along with many currencies and the equity indices markets.
A great tool to look at for these markets is the CVOL Index and how the volatility tracks for a product vs. the underlying price. Looking at gold for example, the underlying price has moved significantly higher, and the volatility has been rising with the price slowly. Historically, when the volatility has been this high, the underlying price of Gold was significantly lower. This tool allows traders to try and understand how markets have traded in the past relative to high or low volatility and can be useful during times of uncertainty.
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