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Gold Put Signal 30 Oct 2015

Signal details
Entry Price: 
1145
Close Price: 
1140
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 6 ratings

The price of gold has been falling after the open of trading in New York. With a couple of tests of the upside failing, the price has broken down to reach lows around $1141. The move has been a continuation of pressure on precious metals after the Federal Reserve was unexpectedly hawkish on Wednesday.

While inflation, income and spending figures have all come out lower than expected, the price of gold didn't manage to stay above $1145, which was the low yesterday. We are looking for a rally from current levels around $1144 to buy daily puts for a quick technical trade into the close of today's trading.

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.