Below is the commitment of traders latests report
As you can see, smart money is strongly short, and this makes gold look very bad. It could break below 1300, depending on what the next chart looks like. That would be very bad for gold if we break below 1300, that would be a false break out which could lead to a break down. If that is what is happening, buying call options on the dollar may be bullish as it could be seeing a false break down and could be about to rally if that is the case. I own call options on UUP, which are extremely risky but highly profitable if your right and buy the right timing ones, while selling at the right time. I expect the US dollar will bounce back. After that, I don't know where it will go. I hope gold holds 1300, because that would mean we are going to retest last years high, and will most likely break out higher. This would be great as I am long ALOT of mining company's, dealing with copper zinc uranium gold and silver.
Silver cots chart is starting to look negative as well
K92 mining is a stock a suggested a month ago, and it dropped 25 percent on bad news of an operation slow down thanks to locals. I believe this is great news to purchase some shares of the stock while bad news is pushing it down. This bad news looks to be temporary and will go away. Read the news releases the past couple weeks to learn more. This stocks first IPO was at 35 cents I believe and opened on the market for about a dollar, going as high as 2.2 dollars. It now trades for 43 cents. With gold going up and this stock going down, This will offer greater returns. I believe it will continue to drop even more, I do not know how low it will go but I picked up some shares at 48 cents and im hoping to see its recent bottom broken so I can grab some more shares at perhaps 40 cents or lower! Imagine where this stock goes with gold at 1400 and the issue they currently are dealing with all solved. 2 dollar stock again perhaps? AWESOME. huge potential.
Goldmining which has a ton of projects they have acquired over the past few years, has not moved much while the price of gold has been increasing, this is opportunity. Only gold breaking below 1300 could harm these two plays in my opinion, or some other unexpected bad news of course.
Of course do your own research. I am willing to risk 100 percent of my money for the incredible gains that are possible in this sector. Best of luck to everyone, and make good choices. Don't risk money you cant afford to lose.
