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December 2025 Metals Options Update
Gold (OG) options activity remained steady into December, with the month-to-date average daily volume (ADV) recorded on December 12 at just under 40K for monthly contracts and 23K for Weekly tenors. While volumes eased from October’s peak, they continue to reflect solid engagement from market participants into the year end. Gold prices still remain elevated at a seven-week peak of $4,300/oz (as of December 12), supported by a weaker dollar, ongoing geopolitical concerns and this week’s Fed rate cut. Implied volatility (IV) remained range bound, declining in December as indicated in the gold CVOL chart (solid blue ... (full story)