Close Gold whole postion

I've decided to close my whole gold position. I don't like the way it's hanging around at the moment. I feel that whatever the result of the Greek elections it's not going to be good for commodities so better to be out of the market. QE is the thing we're looking and now this may happen at the 19th-20th June Fed meeting. It's election year and Obama will undoubtedly be exerting pressure on Ben for a quick fix to juice the markets going into November.


P&L -23
I was a bit annoyed at missing out on a shorting oppotunity when the market jumped after the Spanish bailout agreement. I was racking my brains trying to think of a similar scenario that happened before where I'd made a small profit in such circumstances but couldn't remember and didn't write it down so I didn't do anything. However, now I remember - it was when Bin Laden was assassinated. The market jumped up irrationally then and I was able to short it. Just goes to show how important it is to keep notes.

Still Long on Gold @1603

I remain long on gold, or gold futures to be precise. After my recent success and banking of profits (applying my 10% rule) on gold I bought back into this commodity. IG Index is a good place to trade gold as it is one pound per dollar per ounce. Other spread betting platform are per tick and this can be difficult to time an entry point that either isn't going to get stopped out early in the way that gold tends to make sudden concerted moves.
Today, apparently, our brilliant EU leaders will be meeting to discuss bailing out some of the smaller banks in Spain that overextended themselves during the credit boom. The EU are not money printers per se but honestly - where the hell is this money coming from?
Anyway, I feel all these fiat currency shenanigans will have a positive effect on gold.
I should point out that on this account I am trying to make up for some pretty bad losses. I had originally charged it with a grand and had lost about six hundred of it. I now stands at approx seven hundred which is why my 10% rule kicked in at +60.