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Gold’s one-month risk reversals, a gauge of calls to puts, is again falling, indicating a renewed demand for put options or bearish bets on the yellow metal. 

Risk reversals traded at -0.35 in favor of puts versus 0.075 in favor of calls on Oct. 2. The crossover into the negative territory suggests a bearish shift in the options market. 

That said, risk reversals are still trading well above the multi-month low of -0.475 observed at the end of September. 

Gold is currently trading at $1,895 per ounce, representing a 0.20% gain on the day, having printed a low of $1,882 early Wednesday.