Bullions (Gold )

ACTION ITEMS:

Bullish:
Investors who believe that gold still has room to the upside might want to consider the following trades:

Manage your risk. There is no doubt that gold has rewarded investors will great returns, however, no one ever went broke taking a profit. Taking a bit off of the table at current levels to lock in gains is a prudent idea. Should gold break above $1876(i.e Breaking above 5EMA) again on EOD basis, that would be a great time to reenter, as a push to $2000 would appear likely.

Bearish:

Investors who believe that today’s action is a precursor to a large downside move in gold prices may consider these alternate positions:

At such high levels, the risk has transferred squarely to the bulls. Getting short a large position here with a minimum target price of $1700 leves with $1900 as EOD stop loss and a stop out above the all time high of $1923.70 provides for a fantastic risk/reward ratio.