The Largest Gold ETF Highlights Bullion Traders' Confusion
- Fund’s put-to-call ratio is at the highest since August 2015
- Investors have poured money into SPDR for five straight weeks
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Gold traders are getting pulled in two different directions.
On the one hand, investors are awaiting clues this week on the timetable for reducing the U.S. Federal Reserve’s balance sheet, which could curb demand for gold. Rising equities are also hurting the metal’s appeal. On the other hand, mounting U.S.-North Korea tensions and concern over the economic outlook reinforce the case for owning bullion, which has gained 14 percent this year.