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Kim Cramer Larsson
Areas covered in this webinar by Saxo Bank technical analyst Kim Cramer Larsson include EURUSD, USDJPY, GBPUSD, EURGBP, gold, silver, S&P 500, the Nasdaq, the Dax, the FTSE and the Dow Jones.
Article / 13 September 2012 at 13:59 GMT

Trade of the Day: FOMC position - Bought Gold Oct 2012 at 1825

Chief Economist & CIO / Saxo Bank
Denmark

Ahead of the Federal Open Market Committee meeting Saxo Bank's Trading Strategy Team took a Call option on Gold. This was based on the view that the FOMC will be forced to do more, rather than wait. See this morning's report:  FOMC will do more, not less.

Trade

A look at the weekly gold chart indicates 1800 is a likely target for this move. The loss in this position is limited to the actual amout paid for the option: i.e 460 USD per contract.

Gold chart

6y
goldfinger goldfinger
You are very convinced that Ben is about to press the button. I hope you're right. I have set my trades on your views
6y
Steen Jakobsen Steen Jakobsen
Goldfinger - pls dont give me bad nerves!!!!... Steen
6y
Hank Hank
And millions of goldbugs around the world rejoiced! :-)
6y
goldfinger goldfinger
Thanks, I admire your insight, and conviction
6y
dominom dominom
how does it feel now ? :)

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