Gold prices are trading lower by more than $10 an ounce. Grafite Capital Options Trader Mihir Dange tells TheStreet's Joe Deaux despite the move lower there isn't much momentum on either side of the gold trade. Dange says gold continues to counter the move in the S&P 500, and that he expects very little to influence the market at least until the Federal Reserve meets at the end of January and the monthly jobs report prints at the beginnings of February.

If you liked this article you might like

Gold, Google, SEC Hack - 5 Things You Must Know Before the Market Opens Thursday

Here's the Hottest New Way to Get Rich With Gold

How to Invest in Unstoppable Gold Prices

Novice Trade: Gold ETF

Will Gold Make You 25,000% Richer Like Bitcoin?