Gold's options market shows the strongest bearish bias in 4-1/2 months, according to data source Reuters.
One-month risk reversals (XAU1MRR), a gauge of calls to puts, fell to -0.475 in favor of puts, the lowest level .
The decline indicates investors are adding bets (put options) to position for losses in the yellow metal.
Gold is currently trading at $1,870 per ounce, having reached a two-month low of $1,849 on Thursday. Prices reached a record high of $2,075 on Aug. 7.


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