We have a 2.5% profit on the gold tradeÂ $GLD. Take partial profits.Â
The FED announcement will move the price and there is not need to give back some gains.
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The reason is that the momo crowd will try to buy gold around the time of the Fed announcement. If gold falls after the Fed announcement, the remaining quantity will still be held to profit from. On the other hand if gold rises, there will be more flexibility to add if that is warranted. Equivalent in GLD is $129.2 as of this writing.