Gold market volatility climbs to levels last seen during the 2008 financial crisis, signaling heightened uncertainty around near-term price movements. The volatility ratio of the gold ETF SPDR Gold Shares to the bond ETF iShares 20+ Year Treasury Bond ETF rises to 2.7, its highest reading since 2008.
At the same time, the gold VIX index jumps to 33.1, indicating elevated expectations for sharp price swings. In contrast, volatility in long-dated U.S. Treasuries eases, with the VIX for TLT falling to 12.1, highlighting a widening divergence between metals and bonds.
Traders say the spike reflects growing demand for short-term hedging in gold markets. Elevated volatility suggests investors are positioning for abrupt moves as macroeconomic and policy uncertainty intensifies.