Hedging Strategies: At a Time of Record Gold Prices, This Simple Option Play Will Protect Your Profits

If you bought gold at any time during the first 10 months of 2010, you're sitting on some pretty healthy profits. And thanks to renewed inflation fears and the growing unrest in Egypt, Libya and other Middle Eastern nations, most forecasters believe the "yellow metal" still has lots of room to run. But if you watched gold struggle during January 2011, you may also be worried about keeping those hard-won profits - even with the rebound and run to record highs that gold prices have made.