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It's Time To Short Gold

ByInTheMoneyStocks.com
AuthorGareth Soloway
Published 12/28/2017, 12:56 PM
Updated 05/14/2017, 06:45 AM

Gold has surged in the past two weeks as the dollar has faded. It also appears investors are buying some protection after bitcoin faltered at $20,000 before its recent decline back to $14,000. Bitcoin was a store of safety until two weeks ago when it began to crash. Now money is headed back to trusty gold. While I am a long-term bull, there is a significant swing-trade short opportunity in shares of the gold ETF GLD.

Short Strategy

GLD hit a gap fill and also a down-sloping trend line on Thursday, which connected the highs from mid October to late November. The fact that gold is near-term overbought and has hit two major resistance points signals a likely pull back. Swing traders can look to short gold by buying the DGLD (3x gold bear ETF) or just shorting the GLD, which should retrace back from its current price of $122.85 to $121.00 in the coming week.
SPDR Gold Shares

Latest comments

I think at this point no body will short gold
do you short gold miners?
Wrong!!!
David! Haha. I won't be shorting here!
I am very curious if anyone tried contacting the GLD hotline at (866) 320 4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors.
I am beginner in this.. Can you tell me whether gold go up or down
You will find crooked people in every organization. They simply do the job as if it is a passing ball game.
"opportunity in shares of the gold ETF GLD." I've spent quite a bit of time doing my due diligence into GLD. Would you happen to know why there is a clause in the GLD prospectus that states GLD has no right to audit subcustodial gold holdings? The GLD managing organizations sure went out of their way to create this glaring audit loophole. What is the purpose of this loophole? Additionally, the GLD organizations promise that this fund is 100% backed by actual physical gold but yet they staunchly deny retail investors the right to any of their listed physical gold. CNBC's Bob Pisani also made a highly publicized visit to GLD's gold vault in a segment called Gold Rush: The Mother Lode. GLD's administration organized this visit to show that GLD's gold actually exists. However, the gold bar held up by Mr. Pisani showed a serial number of ZJ6752 which did not show up on the latest bar list during that time. It was later found that this "GLD" bar actually belonged to ETF Securities.
wait, wait, still no..
When
LOL
preachin' to the choir. thumbs up.
Hes referring to a trade opportunity, not a perma bear position bud. Lol. Seems like a good trade too, if youre extremely nimble.
 seqenenre: you're on ******* speak for yourself. i read his article. you don't know nimble. one can't be nimble and broke at same time.
So wait ?
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