I took out a short position in gold to cover losses that may occur in holding long AUD gold stocks. ATM I think that we need one more spike down to make a low in the POG and high in the USD. I'll pull my short if the spike down happens. If it doesn't and we go higher, I have a short stop at $1304, around the 50MA.
Not a trader, just protecting my capital.
PS the AUD will follow IO lower as the TOT drops off the cliff. Hence, why I like AUD denominated gold stocks and think that they will be making bumper profits in the years ahead...
