SPDR Gold Trust Options Ponga Beat Calls for the first time in two weeks

Sales volumes of option-linked to the SPDR Gold Foundation, the largest exchange-traded fund backed by gold, topped the options trading for the first time in more than two weeks.

The volume in put options, which give the holder the right to sell the shares at a fixed price and date, amounted to 192,122 contracts yesterday, the highest since Nov. 12. Exceeded trade options, giving the holder the right to purchase over two consecutive days, according to the data.

Gold futures traded in New York reached a record $ 1432.50 an ounce on 07 December and fell by 3.3 percent since then, comparing this year's gains to 26 percent. The most popular option in the future given the right to buy gold at $ 2,000 by November next year.

"The market view of lower prices until the end of the year is certainly reflected in the behavior of the last days' trading options, favoring short-term makes the calls," said Bayram Dincer, analyst LGT Capital Management in Pfaeffikon, Switzerland. "This is not a surprise, as the breakdown of gold and the new all-time highs were not sustainable in the short term."

Gold is heading for 10 consecutive annual gain, after the government spent billions of dollars and keep borrowing costs low to boost the economies affected by the worst global recession since the Second World War. The metal has outperformed global equities, U.S. Treasuries, and most industrial metals this year.

Silver Options

Trading in options on the iShares Silver Trust, the largest exchange-traded fund backed by silver, rose to its highest level in almost a month. Volume reached 201 381 on 7 December, the most since November 9 and Sunday 160,593.

The volume in call options, giving the holder the right to purchase, options trading exceeded sales in two days and it has since Nov. 17, according to the data.

Silver futures traded in New York peaked at 30 years of $ 30.75 an ounce on 07 December and declined 7.1 percent since then, cut the gain of this year to 70 percent. The most popular option in the future given the right to sell the silver to $ 15 in February next year.