Gold’s Fundamentals Shining Again – Time To Cover Shorts

Friday, March 30, 2012

For the reasons described in “Gold, Silver At A Crossroads” and “Time To Buy Or Sell Gold?” I shorted gold and silver when their prices broke on February 29. I used equal allocations of the “inverse” (short position) ETFs, ProShares UltraShort Gold (GLL) and ProShares UltraShort Silver (ZSL). My expectation was that there would be a short-term test of gold’s and silver’s recent lows. Therefore, with my positions in place, I put in sell limit orders.

However, gold’s fundamentals could now be in rebuilding stage, so…

This article is posted on SeekingAlpha.com


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