$GVZ Weekly

Is the gold price volatile? The gold price volatility chart says that no, the gold price is not volatile. It has been declining on low volatility. Days of volatility spikes were accompanied with price declines, and rallies on volatility declines, but the overall correlation has been positive, meaning lower gold prices. (overall gold prices are higher after the November low.)

I would have expected a rally in low volatility, but this has not yet materialized. But we're at a point where rising correlation between volatility and gold prices can reverse as it has in the past, and we can see consistent rises on low volatility as correlation goes negative.

I would draw an analogy between the close of 2013 and now, only because the technical conditions are so similar.

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