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I alerted subscribers of my marketplace service The Naked Charts that gold was close to breaking out higher on June 18. At that time, XAU/USD (GLD) was trading at $1,726. The breakout has since materialised and XAU/USD is now trading close to $1,770. My suggested choice of poison to take advantage of this view was to buy into the VanEck Vectors Gold Miners ETF (GDX), which is currently about +7.6% in the money with the buy entry at $32.70.
While the call for a breakout in XAU/USD originated from bullish price