Why Are Traders Betting on $20,000 Gold Price After a Historic Crash?

The gold price recently plunged in one of the sharpest one-day declines in decades after briefly topping $5,600 per ounce. Yet, traders continue to place aggressive bets that the metal could surge to $20,000 or more. The divergence highlights a market driven by macroeconomic forces, speculation, geopolitical uncertainty, and shifting central bank behavior. Massive Bullish Gold Bets Despite Volatility According to market commentary from traders and analysts, roughly 11,000 contracts tied to December $15,000/$20,000 gold call spreads have been accumulated source: https://beincrypto.com/gold-metals-speculation-record-bets-2026/