Gold Holds Firm as Options Markets Stir on Crude Oil Spike

From forex.com

Gold continues to hold its uptrend as crude oil absorbs fresh geopolitical headlines from the Middle East. While Brent’s sharp spike injected volatility into energy markets, bullion’s response has been more measured. Options positioning suggests institutions are leaning higher over the medium term — but with protection firmly in place. The message from markets is clear: gold is supported, not yet in breakout mode. Crude oil remains the most directly exposed asset to developments in the Middle East, so it’s no surprise that Brent surged as much as 13% at Monday’s open. However, the bulk of that move occurred ... (full story)