The "Fast Money" traders debated what Thursday's massive moves in the metals market might indicate.
Trader Pete Najarian said that there has been "really aggressive positioning, selling puts, buying calls" in metals, especially gold.
Gold is one of the best performing areas in the market in 2016, trader Carter Worth said. The SPDR Gold Trust has gained 8 percent this year, but the key gold miners ETF has gained more than 58 percent.
Trader Brian Kelly said that it's normal to see strength in the dollar and gold at the same time, especially in periods of rising interest rates and inflation. He said it makes sense investors are buying gold in anticipation of inflation in the U.S.
Pete Najarian is long stock: AAPL, BAC, BLL, DIS, DISCA, GE, GILD, HD, INTC, JWN, KMI, KMIA, KO, LVS, MRK, MSFT, PEP, PFE, WYNN, XLNX. He owns calls: AKS, AAPL, BLL, BVN, BZH, CCL, CNX, DISH, ETP, GDX, GILD, HA, JBLU, KMB, LVS, MT, NEM, P, RIO, STX, TLT, TV, XLF, WLC. Najarian owns puts: GGP, PJC.
Brian Kelly is long TLT, US dollar UUP, U.S. 10-year Treasury notes and bitcoin. He is short the euro, Australian dollar and the British pound.