Overview On June 5, 2024, I initiated an options strategy by selling two put contracts on GOLD $Barrick Gold Corp(GOLD)$ with a strike price of USD 16 and a maturity date of July 12, 2024. For this transaction, I collected an option premium of USD 35 per contract. This decision was influenced by several market conditions and strategic considerations. Market Conditions and Rationale Rising Gold Prices Gold prices have been on an upward trajectory due to geopolitical uncertainties. The ongoing wars and geopolitical tensions have significantly increased demand for gold as a safe-haven asset. This consistent demand suggests a stable or rising price for gold in the near term, making the likelihood of the price dropping below the strike price of
Gold, Silver & Copper Hit Highs: Will the Rally Last?
Gold reached a record high, and silver prices are near an 11-year peak, boosted by a weaker dollar. Copper is also on fire, with LME futures near record highs and New York copper futures up over 30% YTD. ------------ Will Silver hit $35 and then break through $40? What's your target price for commodities? Will the rally last?
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