If I am long physical gold, and I am looking for a complex option strategy that will do the following: 1) Hedge completely against decline in price, 2) Give up much to most upward price rise potential in return, and 3) Avoid liquidating physical gold, can any one suggest a strategy and company to do business with?

This is a pretty ridiculous "have your cake and eat it to" objective, where you are trying to lock in your gains and still hold the asset. Just sell the gold and buy some t-bills. Why hold the gold?

You could set up a "collar" trade by buying puts at or near the money, and selling a call out of the money or at the money to pay for most of the put. If you do get the drop, you buy back the call, and sell the put to capture the gains, or exercise the put to sell your gold at the put strike. Although I don't recommend holding physical gold because it is less liquid than holding futures or stock.

I think you could accomplish your objective with the outright futures contract. Just sell the futures. Of course, you will have to calculate how many contracts depending on how much physical gold you are holding. You could also use options and buy puts on the gold. This may be more effective as it does not limit your upside, but will provide a good hedge. Of course you will be out the premium regardless of what happens.

Options.

You should be asking yourself, 'If I like gold, why do I want to hedge out the risk?" To "hedge fully against" a price decline via a "complex option strategy" is a complicated way of saying you don't want to accept gold price risk. In that case, you have no business investing in the physical...sell your gold hoardings and buy a CD, my friend. D