UGL - Gold: Double-Edged Sword And Why UGL Is My Weapon Of Choice (Technical Analysis)

2024-04-04 21:28:01 ET

Summary

• Gold is a trading vehicle to me, not a long-term investment.
• I do see some near-term potential for it to continue to "rip" higher and so a small position in 2X ETF gold long UGL is my approach.
• I review how I got here vs. my more negative view on gold six months ago.

Back on Oct. 2 of last year, I wrote about gold, and the title of the article said don't walk away, run away, as I expressed my view that a drop to $1,600 or below was "on the table." What followed was a missed opportunity for me.. . or was it?...

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