With options expiry today in April gold, we expect the price to finish the COMEX session at or around 1600, as this would see the 1600 puts and calls expire worthless, the ideal result for the options writers, i.e. the major investment banks.
The trading could be volatile today, with wild swings both up and down as the options expiry gyrations play out.
In addition, any further developments with regard to the Cyprus situation could move the markets, though this particular event appears to have run its course for now.
We are still watching 1620 as key resistance and 1554 as key support - today's video for subscribers looks at our strategy for our next trade.