Make This Gold Play Right Now for a Quick Triple-Digit Profit

|April 17, 2023

What goes up must come down – and that’s giving us an opportunity for a nice payday on one of my favorite speculative assets.

I’m talking about gold.

The recent banking crisis encouraged a flight to quality, which precipitated a nice pop for gold – but as frightening as that might have seemed in the moment, one thing is sure…

We’re not going back to the gold standard!

No matter how much you want to shine it up, it’s still just gold. If you’ve been with me a while, you’ll know I’m not really into it as a long-term investment asset. It’s no magic elixir – but it is a great vehicle for trading.

And trading, just as the name suggests, means making money in both directions, up and down. When there’s an opportunity to make money on a market reversal, that’s a chance for us to “flip the chart” – and in the case of this particular asset, we’re talking about quick, easy triple-digit profit potential.

To do this, we’re going to target the SPDR Gold Trust (GLD), which has had a tremendous run over the last month, gaining as much as 12.97% since March 8, 2023.

Now, though, GLD is considerably overbought, and I see it trading lower in the near-term, if for no other reason than for traders to take profits..

So at this point, I like buying the GLD May 19, 2023 $185/$180 Put Spread for $2.00 or less and taking profits at 100%.

As long as GLD closes below $180.00 (just 2.6% lower than where it’s currently trading) on May 19, 2023, this trade will have easily delivered our 100% profit target.

It’s easy to understand why gold has had a run up recently – everyone’s looking for safe havens in a market that seems full of landmines between the banking crisis, continued stubbornness from the Fed, and an earnings season that could be dicey.

But there are better opportunities out there. Consider this: the Department of Energy is pouring $13 billion into our country’s electric grid, and I have a lead on a company that could take the lion’s share of it.

As of now, shares are going for less than $5. But this is only for investors who act before April 20. After that, you’ll be up against institutional buyers and Wall Street, so the time to get in is now. I have a full report here…