According to GL, they are intending to lock in some protection....

According to GL, they are intending to lock in some protection. GK also told me last week that they will make a decision on the extension within 2 weeks, so expect to hear something next week on this. The gold price only has to hang on that much longer. Given he also stated AUD1,700 appeared to be the threshold figure, prices remaining north of AUD1,800 will mean the protection will be cheaper.

He didn't elaborate on the form of protection, but I assume they will go with puts again to give exposure to any upside.

I just wonder jako how relevant VSA analysis is to the gold price in times of turmoil. Sure the professionals may try to influence prices in the short term, but the situations in Europe and the US are so desperate right now that I am not sure anyone can maintain enough influence over the gold price at the moment...