How to Trade Gold After Hitting Its Six-Week High Amid Volatility

Gold extended its rally to a six-week high on Tuesday, boosted by a weaker dollar and losses in equities. William McCarthy, managing partner at Kottke and Associates, explains how to trade the precious metal now. McCarthy says with the increased volatility in the markets, it's time to cut your positions in gold. He reveals what levels he would like to see taken out before he would be confident that gold is starting a new uptrend. McCarthy also details his expectations for gold in 2015, given sentiment that equity markets could run out of steam and money then flow back into the metal. Plus, he weighs in on the gold miners and the key levels to watch in the Market Vectors Gold Miners ETF.