Update

I am still having a hard time determining overall direction of Gold. That is why I bought all those Gold puts a while ago. The Dollar looks like its going to get stronger and that might weigh on Gold and, as I have been saying for a while, I don't like equities at this level. We really need to unwind some of these overbought oscillators.

Remember that I bought the puts strictly as protection, not to make money. Holding Gold is important in case of a major (unexpected) event that could affect your portfolio.