Last week on December 5th, I saw an opportunity based on my charts; gold appeared to have bottomed at $1,211, though the greater volume of trades was done at about $,1,219.
Recent high on November 29th/30th was about $1,254.
I am not sure whether there is enough momentum to bring it back to the last high, it’s currently trading at $1,244.
Then again, with the budget looming in January and the debt ceiling in March, maybe, it may be worth the while to hold the position.
Hmmmm………I am up $12/-, and to sell an option till January 30th, 2014 at $1,246 will give me premiums of $30/-. Sounds like a good trade.
Done, just executed selling a call option XAUUSD at $1,246 expiring January 30th, and receiving premiums of $30/-.
The Panthenon Investment Group 