Gold prices jumped to a 6 week high and are trading near $1,727 an ounce. With the Fed pledging to hold interest rate low until late 2014, investors are buying gold to protect themselves against inflation. OpenBook trader Gavinwright who has 119 copiers has been long Gold and EURUSD for the last several days. The trader had a good week, netting over 29% gains in his portfolio. The trader has fairly good experience in trading commodities with 23% of his portfolio dedicated to commodities. Earlier, the trader has been actively scalping the EURUSD and Gold and closed over two dozen positions with profits ranging from 0.75% to 5%.
OpenBook trader pyruss has been closely watching the EURUSD and believes the pair could target 1.3244. In his own words, market sentiment is getting better due to high probability of a Greek debt agreement. With the Fed leaving the door open for further quantitative easing, there is further U.S. Dollar weakness to be expected. This trader, with 387 copiers and 2838 followers, has an active following because of his patience in analyzing the markets and using low risk strategies. Trader pyruss is up 29.5% in the last three months.
Markets are mixed today with the Dow up 0.01%, the Nasdaq down 0.36% and the S&P 500 down 0.4%. Traders on OpenBook are primarily long the Dow (DJ30) with average limits at 12,850 and stops at 12,600.
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