Gold volatility slumped to a 44- month low before the Federal Reserve concludes a two-day policy meeting.
The prospect of unprecedented European stimulus that sent gold prices to the biggest gain in three weeks still wasn’t enough to rescue bullion from the doldrums of sinking volatility.
Investors are too busy pushing stock prices to all-time highs to bother with gold, sending bullion’s price fluctuations to the lowest in almost 14 months.
After two months of treading water, gold prices are starting to sink.
After a disease-spreading bug wreaked havoc on Florida citrus groves this year, growers like Maury Boyd are seeing a new threat from the weatherman that would mean “pure hell” for orange-juice supplies.
Investors are shunning gold again, sending holdings in the world’s largest exchange-traded product backed by bullion to the lowest since December 2008.
Gold futures fell to a 15-week low in New York as U.S. equities climbed to a record, curbing demand for the precious metal as an alternative investment.
"Volatility has increased dramatically, but it's from a very low level."
- James Cordier on Jul 15, 2014