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Gold Put Signal 24 June 2016

Signal details
Entry Price: 
1320
Close Price: 
1318
Expiry Time: 
20:00 GMT
Result: 
ITM
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Gold has failed to capitalize on what is a black swan of epic proportions. Precious metals have initially rallied heavily, only to give up most of the gains by the end of the trading session in London. In the end gold prices have centered in a range between $1310 and $1330. The midlevel around $1318 is the price point where we come in.

If the price moves higher towards the said level we would be buying daily put options and looking for a drop towards the close. The main rationale here is that if a Brexit can't hold gold higher, nothing will. The price of gold is rapidly dropping towards lower levels as of writing and is currently around $1313

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.