In November, the gold bounce from 1535-1804 was recommended to sell against. By December gold fell back to clip the 1535 lows with a new low at 1523.9 before turning back. This offered oppurtunity for aggressive traders to short the market and profit on the way down, along with oppurtunity for gold bugs to use the pullback as an area to defend and buy physical considering the market was $300 more just a month back.
Risk disclosure: Past performance is not indicative of future results. The risk of loss in trading futures and options is substantial and such investing is not suitable for all investors. An investor could lose more than the initial investment.