As stocks sold off nearly 8 percent since hitting an all-time high on Sept. 19, gold prices have hardly reacted, rising just 2 percent in that time period. That's a big disappointment to those using gold to hedge against stocks—so much so that some traders view the muted move as a reason to sell the precious metal.
"We bought it a couple of weeks ago as kind of a protection play on the market, because we just felt volatility creeping back into the market," Brian Stutland said Thursday of CNBC's "Futures Now." "But with the weakness, you should have had a bigger rally in gold. It kind of, actually, to put it bluntly, sucks that it didn't go higher."
In fact, Stutland is now looking to sell his fresh gold holding.
"You have to start to consider taking that back off the table, because we should have gotten a bigger pop," he said.