Gold rallied this morning on the risk trade, but as confidence crept back into the computer algos and stocks rallied gold gave up much of its gains, and silver slumped back towards the fifteen handle.
Those holders of March futures contracts after the option expiration are getting the usual gut check. It is never easy to hold any position short term in a market like this. And this is why I strongly recommend against the use of leverage, options, and oversized positions.
Things are unfolding as expected.
Have a pleasant evening.
