That didn’t take long… Powered by the growing prospects of war with Iran, gold cut through its 4-year high of $1,378 per ounce like a hot knife through butter. Currently trading for $1,419, gold is within $15 of our first upside target of $1,434 per ounce. Multiple closes above this level would put our second upside target of $1,500 per ounce in play. Last week’s positive price action, combined with recent developments in Iran, means we’ve added a third upside objective of $1,625 per ounce.

Data Source: Reuters

RMB Group trading customers who followed our recommendation to buy December 2019 $1,400 / $1,450 bull call spreads for $600 or less using the COMEX gold options should consider exiting their positions on a move above $1,430 in the front month futures contract. Our December spreads are currently going for $2,000 each. Continue to hang on to your June 2020 $1,450 / $1,500 spreads if you have them.

Please be advised that you need a futures account to trade the markets in this post. The RMB Group has been helping its clientele trade futures and options since 1991 and are very familiar with all kinds of option strategies. Call us toll-free at 800-345-7026 or 312-373-4970 (direct) for more information and/or to open a trading account. Or visit our website at www.rmbgroup.com.

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The RMB Group

222 South Riverside Plaza, Suite 1200, Chicago, IL 60606

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