This Week in Gold and Oil Volatility

GLD stayed in the 160.00 – 165.00 range this week and settled on the low end at 160.65. Testing the low end pushed GVZ up a little on the week, but definitely off a low base to close at 14.08. Still a low levels relative to history. Of course you can say this about all the traded VIX indexes these days. A break below 160.00 may actually be the start of a down move in GLD, with that could also result in a spike in GVZ. The curve flattened this week as the futures market went lower. 

USO, representing the price of oil, was down a whopping 0.01 on the week. Very little has been going on in the oil markets these days, but OVX actually rose almost 2.5% on the week. Although the index rose, like the GVZ curve, the futures all dropped for the week.