Options Expiration and Contract Roll Over Week for Gold

This week is option and roll week on Comex. Gold is typically hammered around options expiration to force as many contracts to expire worthless as possible. Also, any trader not rolling their position to the next month in the futures market must be out of their long position by the close of Thursday. These events not only tend to force the price of gold down but also provide cover for connected money to reduce their short positions before the next advance.