Gold bears grow weary as ratio of puts to calls hits 3-year low

New York

GOLD bears are finally showing signs of fatigue, if options trading is any indication.

The put-to-call ratio, or the number of bearish options trading compared with bullish ones, for SPDR Gold Shares is at the lowest since 2012, data compiled by Bloomberg show. The open interest on puts fell to the lowest since mid-July on Sept 21, signalling bears may be losing their stranglehold on the market. SPDR is the world's biggest exchange-traded product backed by gold.