This morning following a quick assessment of the upcoming weeks action I have decided to close our open positions on $GOLD at a small profit. After a dip in the early part of the month gold has rebounded to a respectable level and I am happy to close those trades out in green while we wait and see what occurs this week.
At the end of the week we have an upcoming FED announcement, the outcome of which will likely affect near term price action. If tapering looks imminent the US Dollar will likely rise to the detriment of gold and vice versa. With this in mind I have decided to adopt a risk averse strategy, take some profits and wait it out.
$NSDQ100 $DJ30 $SPX500 $USDOLLAR