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Bill Baruch's Gold Futures Trade

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Bill Baruch's Gold Futures Trade

On CNBC's "Futures Outlook," Bill Baruch from Blue Line Futures said gold is not dead. He expects to see a move higher in December, but he wouldn't chase the current rally. He would wait for a pullback to $1,825.

Baruch expects the Fed to remain accommodative and he thinks the new stimulus will come, which would lead to inflation.

To make a bullish bet on gold, Baruch wants to buy the February futures contract at $1,825. He wants to place a stop loss at $1,765 and a price target at $1,925. Baruch said he is using a 50-ounce contract, risking $3,000 to make $5,000.

 

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