Chart of the Day 10/22/25: Looking for Volatility? You'll Find it HERE!
Looking for volatility? It’s not that bad in equities. The CBOE Volatility Index($VIX) was hovering around 17-18 yesterday. But look at what’s happening in GOLD!
On Monday, gold futures rocketed more than $170 an ounce at one point – almost tagging $4,400. Then yesterday, it plummeted more than $230. At one point, gold (GCZ25) was down 6.3%, the worst one-day drop for gold since 2013. Silver (SIZ25) plunged almost 9%.
Now, take a look at the MoneyShow Chart of the Day. I used candles for the CBOE GOLD Volatility Index($GVZ) and a line for the VIX – and the numbers show the year-to-date change.
Looking for Volatility? It’s in METALS!
Source: Yahoo Finance
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You can see that gold vol has essentially DOUBLED in 2025, while equity vol is barely up. In fact, the GVZ just hit 33. That was its highest reading since March 2022.
If you’ve been following my work, then you KNOW I’ve been a metals bull for a long time. And you know gold has performed phenomenally well during that stretch. But when you start seeing this kind of volatility, you have to temper your enthusiasm.
We MAY have seen a short-term blowoff top and peak for gold, like the one back in April. That one led to a multi-month consolidation, which then gave way to the current run that started in August.
If you’re a longer-term bull, that’s what you WANT to see play out again as it’ll give you a chance to buy on dips. If you’re a shorter-term trader, you may have a chance to profit from a pullback. Just keep your stops tight and your exposure reasonable in case it’s just another temporary breather.
