COMEX Gold Option Volatility, page-2

Timber, nice analysis.
and coming back to your earlier point about the recent performance of the large gold stocks, maybe this is the key. ie lack of volatility suggests the downside is muted leading to buyers coming back to take advantage of the chronically oversold equity position in gold stocks. Just a guess.
as a post thought, do you know what the normal volatility should be/usually is? Tia