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Lambert: A golden opportunity?

Prices of gold have fallen sharply in recent weeks as the US Dollar continues to strengthen, detracting investments in the safe-haven commodity. The move below USD 1,180 has served as a signal to investors that prices of gold could continue to fall. Clive Lambert, from FuturesTechs, is evaluating various levels to short gold at the moment.

In the past year and a half, gold prices have experienced a rally immediately after hitting the USD 1,180 level. When prices continued to fall to USD 1,137 it was a clear indication to investors that the sell-off in gold was accelerating. With less instability in the US economy another rally higher appears to be unlikely. In fact, investors are expecting positive results from the US nonfarm payroll report, which is due out on Friday. This data could serve as a catalyst for further declines in the price of gold.

Clive outlines two chances to short gold. The first opening exists in the short-term near USD 1,152-4. For patient investors a second opportunity exists at USD 1,175, USD 1,179, and USD 1,180. He is targeting a move down towards USD 1,089 in both trades.

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01:26 minutes
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