Trade Alert: GLD IAU

We are long GLD and short IAU as a hedge. IAU broke the 100 dma after putting in a double bottom near 85 earlier this month. Let cover our short position on IAU and hold the long on GLD open. If gold breaks $925 per ounce we will add either another long GLD or IAU to double up in gold. The dollar is dropping again and oil is doing who knows what or for how long. We will have to be careful in here, but we want to be long gold.