FxWirePro Call Review: Prepare to buy gold targeting $1500 area

In late January this year, in an article named, “FxWirePro: Prepare to buy gold targeting $1520 per troy ounce”, available at https://www.econotimes.com/FxWirePro-Prepare-to-buy-gold-targeting-1520-per-troy-ounce-1122155 we urged our readers to prepare to buy gold with a long-term buy outlook targeting $1520 per troy ounce.

In a separate article, we also suggested that while we remain bullish over the longer horizon, the gold could decline towards $1290 per troy ounce in the short term. We urged our readers to go short on the yellow metal in the short-term at the then current rate of $1328 per troy ounce with an initial target of $1290 area and an extended target of $1270 per troy ounce (but $1270, not our base case). Here is the link, https://www.econotimes.com/FxWirePro-Call-Review-Gold-likely-to-decline-towards-1290-in-short-term-1137409 The trade is well in the money with the yellow metal trading at $1306/troy ounce

Here, we would like to urge our readers, who are looking to enter long positions with a longer-term outlook to start buying around $1280 area and buy at dips of every $15 per troy ounce. The stop loss for this trade should be maintained around $1225 area.