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Gold Call Signal 22 June 2016

Signal details
Entry Price: 
1,265.00
Close Price: 
1,265.90
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

Looking at the broader markets this U.S. morning we have identified a trading opportunity in gold, where we hold the opinion that the price could move higher from the $1266 level. With the current rate at $1267.50, we will enter the trade only if a drop by $1.5 occurs.

The main fundamental factor for this trade is that some profit taking on short positions before the referendum might drive the price of gold higher. Overall for the longer run we would be rather favoring put positions, just not in today's trading session in New York. Expiration time for the options we recommend is 20:00 GMT.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.