This Is How To Trade Gold – Phil Streible (Part 2)

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Investors should seek downside protection when buying gold, said Phil Streible, senior mark analyst at RJO Futures.

“I’d look at buying some protection like a $1,300 put in gold, and then trying to buy it as close to that 200-day moving average as possible: $1,308 an ounce, to $1,312 an ounce, somewhere in that range. That way you have calculated downside risk if the market does break hard on next week’s jobs number,” Streible told Kitco News.

Streible added that if catalysts push gold to the upside, he would expect a break above $1,335 an ounce to $1,340 an ounce would springboard an aggressive move back higher.

He noted that these he would implement these trades using June gold futures and June put options.

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Comments

Liberty or Death says:

Good ole Phil. I miss all the daily RJO F vids.

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