Why This Is The Best Time To Sell Gold?

Shorting gold maybe the best strategy for 2015. In the next 10-12 months, gold price can hit $950 per ounce. But can gold sink to $950 in the next 13 months? One trader believes so and has even taken a position on it.

“I am short gold long term,” said David Seaburg, head of sales trading at Cowen and Company. Though he did predict a short-term pop for gold on “Talking Numbers” two weeks ago, he believes the metal is headed down.

“You’re going to have little pockets of trades that occur as we get more global uncertainty,” Seaburg said. “But ultimately I think the trajectory for gold is down, and I do believe that being short it is the trade right now.”

Improving US economy and USD getting strong are obvious reasons for shorting gold.

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