t would be wise to invest in some insurance on the Gold and Silver positions in your portfolio on any upward moves in the gold price. If we see a rally on Monday November puts on GLD at or around the 140 - 150 strike place would be a wise play. While I still expect Gold to hit 2000 - 2500 this year.
It is always wise to buy your puts when the price is moving upwards and buy your calls when the price is moving downwards.
On or about October 4th Gold typically declines through the first week of November.
We are likely to see the dollar rally a lot more as a result of Operation Twist and bonds get hit. USD will probably be the best performing currency in the short term and that will have a negative effect on Gold as it is priced in dollars.
I will send a more detailed report during the week with some additional strategies.
Best Regards,
Robert
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