GVZ
Gold volatility — implied vol on gold futures
Official name: Cboe Gold Volatility Index
Latest value
30.4600
as of 2026-04-10
All-time percentile
97th
1-year change
+14.6%
Time series
Showing 628 of 1 256 data points
About this series
CBOE Gold Volatility Index. Implied volatility derived from options on the SPDR Gold Trust (GLD). Daily updates.
Why it matters: Gold is traditionally a safe haven and inflation hedge, so its implied vol tells you about stress in those regimes. Rising GVZ during a gold rally indicates the market sees the move as uncertain rather than trending calmly — often accompanies macro stress events rather than steady "store of value" demand.
How to read it: Typical range 12-25. Spikes above 30 are significant (crisis or policy inflection points). Low GVZ during a steady gold uptrend is the "calm accumulation" pattern; high GVZ during a rally is the "panic flight" pattern.
Caveats: Lower trading volume than VIX/OVX, so the signal can be noisier. Only goes back to 2009.