Gold: Time to grab some profits?

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Quotable

“There is thy gold, worse poison to men's souls,

Doing more murder in this loathsome world,

Than these poor compounds that thou mayst not sell.”

― William Shakespeare, Romeo and Juliet

Commentary & Analysis

Gold: Time to grab some profits?

Gold.jpg

If you’ve been riding gold higher—great!  And depending on your time frame, and beliefs, you may want to sit with your gold as the ultimate “insurance policy.”  Understood.  But if you trade gold over the intermediate-term time frame, you may consider either grabbing some profits, shorting, or waiting for a correction lower before you add (selling perceived corrections is always risky when a trend is established).

It appears to us, given both the technical and sentiment background (as you can see in the charts below), gold is due for a correction and it could be deeper than expected.  That said, we do believe gold goes higher over time.  It seems there are just too many bull riders at the moment; Mr. Market doesn’t like that…READ MORE


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