Investors are significantly increasing bullish bets on gold, with the net difference between call and put open interest for the GLD ETF reaching approximately 2.4 million contracts this week. This figure represents the highest level of bullish sentiment recorded for the fund since February.
Since the recent market intervention by Japan, the gap between call and put options has expanded by more than 1.0 million contracts. This rapid growth in open interest highlights a sharp rise in upside positioning for the precious metal.