There are ex-US catalysts for gold, however.

“Meanwhile, European elections and the Brexit negotiations could be further unnerving to financial markets and shake investors’ confidence in stocks and the economy,” according to the Financial Post.

Bearish traders can short gold with the ProShares UltraShort Gold (NYSEArca: GLL) provides a two times inverse or -200% daily performance of gold bullion.

Alternatively, ETN options include the DB Gold Double Short ETN (NYSEArca: DZZ), which tries to generate the twice inverse or -200% return of the daily performance of gold; DB Gold Short ETN (NYSEArca: DGZ), which tries to reflect the inverse of gold price movements; and VelocityShares 3x Inverse Gold ETN (NYSEArca: DGLD), which tries to reflect the performance of three times the inverse or -300% daily performance.

For more information on the gold market, visit our gold category.

Tom Lydon’s clients own shares of GLD.

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