The one-month 25 delta risk reversals gauge has shed bullish bias, which indicates that gold's repeated failure to scale the $1300 mark has not gone down well with the investors.
- The risk reversals adopted bullish bias on Nov. 9 but quickly topped out at 0.225 on Nov. 10. Currently, it stands at zero (neutral).
- Bulls need progress soon, i.e. prices need to break above $1300 else the risk reversal gauge could turn negative, highlighting the increased demand for gold put options (bearish bets).
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