Gold Selloff Creates Tactical Buying Chance, Yet Garner Stays Bearish at $4,500

Carley Garner of DeCarley Trading sees the recent gold price drop as a chance for a short-term rebound thanks to seasonal patterns and technical support, while staying bearish longer term. She notes that buying gold from late September through late October has historically delivered gains in 12 of the past 15 years, with December futures holding a key trendline. Garner recommends micro contracts or options to limit risk and suggests selling a December $3,900 put while buying a call spread from $4,300 to $4,450. She expects a 300- to 400-point upside but warns of unlimited losses below $3,900, counting on support near $4,000. Her tactical target sits around $4,500, after which she would prefer to establish bearish positions. Garner links her overall negative outlook to a stronger U.S. dollar, which could also trigger a 30-50% correction in copper.