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Gold options expiration 'could be very volatile': RBC Wealth Management

Anna Golubova

Kitco News

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(Kitco News) Comex options expiration "could be very volatile as options keep adding to their open interest even after large selling of equity and commodities yesterday," according to RBC Wealth Management. Open interest in gold futures contracts is at 557,730, which is up slightly, but options on gold futures is at 1,313,268, up 8,396. "Buyers met sellers on dips. Gold is range-bound, still holding $1,900 basis December futures for now," says RBC Wealth Management managing director George Gero. "Early evening out on options expiration because options in the-money become futures contracts next day need margin. Not wavering from longer-term $2,000 gold and $30.00 silver upcoming due to many global worries added to debts, currency volatility, interest rates volatility, and general unrest."

By Anna Golubova

For Kitco News

Contact agolubova@kitco.com
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