Jim Iuorio's Gold Futures Trade

On CNBC's "Futures Outlook," Jim Iuorio said that he would buy gold if it trades at $1,903 again. He would place a stop loss at $1,886 and his price target would be at $1,928. He is risking $1,700 to make $2,500 with this trade.

Iuorio is bullish on gold because he expects the U.S. dollar to weaken on rumors about a relatively aggressive stimulus package. Longer-term rates are going higher, which normally gold doesn't like, unless it's signal about concerns of inflation, said Iuorio.