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Covering my short position in Gold made in May 2021

Posted on October 21, 2022October 21, 2022 By alanyeo No Comments on Covering my short position in Gold made in May 2021

Dear readers,

I initiated a short position on gold price in May 2021 in which i mentioned selling the yellow metal between the price of $1,900 to $2,000.

Link to the article here

I’ve covered that position today buying back at $1,625. Percentage gain of 16.67% on this position which lasted one year and five months. Annualized gain is around 12%.

As I was using CFD for this position, the net gearing was 5x and therefore, total percentage gain for this position was 83.85%.

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