Oil, Gold, Silver Trading: Oil / Gold spread trade turns profitable

Wednesday, August 27, 2008

Oil / Gold spread trade turns profitable

On Monday 25 August, I mentioned that Oil / Gold ratio chart looks toppish and has started to move downward. So tap on this downward movement is to sell oil and buy gold. Details here.

I had sold 1 lot of supermini oil at 115.00 and bought 1 lot of gold at 822.63.

Currently oil is trading at 117.23, gold is trading at 833.13.

Profit and Loss:
Shorted 1 lot of supermini oil: (117.23 - 115.00) x 100 = US$223
Bought 1 lot of gold: (833.13 - 822.63) x 100 = US$1050
Net profit = 1050 - 223 = US$827

Oil / Gold ratio chart is still pointing down

My websites:
www.CommoditiesTradingPro.com
Investment-News-Update.blogspot.com
AllAboutOil.blogspot.com
www.ForexandBinary.com

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