This Week in Gold and Oil Volatility – 1/31/2014

Gold ruined a weekly win streak by closing down for the first weekly price loss of 2014.  The small uptrend (seen below) can now be debated. However, I would be remiss if I did not point out that GLD did have a higher high (by 0.01) and a higher low (a whopping 0.29) on a week over week basis.  Maybe an argument for the bears could be the rise in GVZ which gained over 6%.  The GVZ curve maintained a very pretty contango shape despite the rise in GVZ.

GLD Weekly - 01312014

While all the other markets with tradable volatility products were under pressure last week the price of Oil stood out and rose a bit.  The United States Oil Fund ETF (USO – 34.80) rose a little more than half a percent, despite being down some on Friday.  Oil Volatility is starting perk up after making all-time lows a few weeks ago and closed over the sort of psychologically significant 20 level this week.

GVZ OVX Corrected