Analysis: Gold bulls are not afraid of historical pullbacks, and are betting more on gold forward call options According to the Golden Ten report, some steadfast gold bulls are not concerned about the historic pullback of precious metals and still hope that gold prices will soar to unprecedented levels again. At the end of January, the price of New York gold futures briefly broke through a historic high of $5600 per ounce, but the next day it experienced an unprecedented plunge. During this period, one or several investors began buying call option spread contracts with an exercise price of $15000/$2000 due in December on the New York Mercantile Exchange (COMEX) under the Chicago Mercantile Exchange. Despite the consolidation of gold prices around $5000, the position continues to increase and has now reached approximately 11000 contracts. It is truly surprising to see so many deep virtual call option spread open contracts after a technical correction, "said Akash Dohi, Global Head of Gold and Metals Strategy at State Street Investment Management. Some traders may see it as a cheap lottery opportunity