Are Options Block Trades Saying That Gold Is Going To New Highs?

Commodities Investing, Gold & Silver, Options

A couple massive options block trades last week could be very bullish indicators that the price of gold is headed much higher.  Call spreads in VanEck Vectors Gold Miners ETF (GDX) and SPDR Gold Shares (GLD) could both be pointing towards much more upside in gold.  The precious metal is often used as a hedge against uncertainty by investors, and the markets are definitely in a period of uncertainty. What’s more, Russia has said it will accept gold as payment for natural gas. These block trades could be positioning for a large move higher by September.