Gold did not break to new multi-year lows last week, but if you read all the news you would think it was just a matter of time. I continue to watch the weekly chart of GLD that appears below and as of this past week the move lower seems to be slowing.
GVZ moved up just under a point with that move mostly a result of the price action in the equity market on Thursday. Without that cross market push higher in GVZ it probably would have been a fairly slow week.
Expected volatility for the oil market was also pretty tame on a week over week basis. It may just be that the US becoming a bit less depending on foreign energy sources is resulting in a new paradigm for oil traders. This may be good for the majority of us, but it has some oil traders pulling their hair out waiting for the next big move to capitalize on.
Sticking with the Gold theme above, the inversion of the curve this past week makes me pause and wonder if the markets are expecting GLD to hold around current levels.