Gold Still Selling Off

GLD is an index that tracks the movement of gold. Gold has been selling off since the beginning of the year and it looks to continue that trend. At the beginning of the year gold was trading at record highs, as was GLD at 117.5 range. Since then it has pulled back to the 109 mark. GLD looks to be in a definite down trend/correction and looks as though it has more room to go. With the recent rate hike, making the dollar more attractive to foreign investors, expect money to continue to flow out of gold. I believe money can be made buy purchasing puts against the GLD or shorting the index. In the next month or two one could expect a mean reversion back to the 200 day moving average, which would be around the 100 mark. There's significant room for a gain from a short position.