GOLD Gets Going

Options Hotline Update, FYI: Our recommended call on Barrick Gold Corporation (GOLD) trades +131% in 3 days, on a 12% move in the underlying shares, with an always known and strictly limited risk.

Market moves accelerated following a friendly Fed statement.  Falling Treasury bond yields are weighing on the US dollar.  This is helping boost stock prices and it benefits gold, as well.

The Midas metal is affirming its position as a store of value, especially in times of heightened geopolitical tensions.

Former resistance (supply) now represents support (demand).  As you can see on my daily candlestick chart below, buyers are consistently closing the day above the opening price (generating a red main body on a candle line).  This shows buyers stronger than sellers. Overall, the juice behind gold’s move forecasts the likelihood of higher prices down the road.

gold chart

Chart by Steven Sarnoff h/t stockcharts.com

If this is the type of options action you’re looking for, subscribe to Options Hotline today and see how we stay a step ahead of the crowd.

Let me know if you have any questions.  My email never sleeps and I always enjoy hearing from my great readers, even when you tell me my picks are crazy!

Best regards,

Steve

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