this economy is not going anywhere. it may not go into recession but strength is not possible. gold must have at least the possibility that prices MAY go up through demand.which drives the markets and housing and income (non government jobs) taxation only causes LESS of the economic growth which is necessary for strength in pog. redistribution of taxpayer cash to create growth is not favorable for gold price because such growth is not sustainable without confiscated cash.
The trading place is overcrowded. There are too many players trying to make money through high leverage and complex options strategies. Counterparty risk is greater than ever. Watch out and trade safely.
Gold will in fact go up but the easy money has already been made. I got in the GLD when spot was less than 1,000 per OZ. I have a major position and trade around it. I also define my risk using calls. On Monday, I went long using the 155 Strike Calls. On Wednesday, while the GLD was only up less than a percent, my calls had increased about 20 percent. I then took profits. My 20K turned into about 24k overnight. But I did not get gready and cashed in the profits. turns out that gold was just doing an oversold bounce. If you can't stomach the volitility, I would suggest staying away from options and just buying half a position in the GLD now. It may pull back and give you a better price. If there is no pull-back than you at least will make some profit. There is no doubt in my mind that we will see spot gold north of 2,000 sometime next year. The questions are......will u get it at a better price, and do u take profits before becoming greedy