Time to take some profits in GBP/XAU

Not because I’m losing the faith, in fact the opposite is true, but come on, gold has moved up from £820 to £900 (a 10% move) in the last fortnight. The beauty of commodities is that they are volatile and the drivers sometimes come from left field (Brexit in this case being a major contributing factor). So whilst it is important to have a base view to trade around, you must also “trade” the volatility when it comes around. Gold has performed spectacularly as a preserver of wealth and the portfolio diversifier that we know it to be so I’ll be slightly nervous to be out of it for the moment but being the volatile asset that it is I’m comfortable that a better entry level will present itself to reinstate the long in the weeks ahead.

Matthew KeenTime to take some profits in GBP/XAU