I agree, thats why I asked the question. Looking at a couple of different types, like NUGT and GLD. Not sure
All up in the air
Most investors may consider buying the SPDR Gold Trust ETF GLD, +0.54% today in the zone of $111.00 to $112.36. GLD is trading at $112.09 as of this writing. For those using different instruments, the gold equivalent price is $1177.
Experienced, aggressive investors may consider buying the Direxion Daily Gold Miners Index Bull 3x Shares ETF NUGT, +10.22% NUGT is a triple-leveraged gold miner ETF. The gain in NUGT in the event of a “no” vote could be up to 500% more compared to buying GLD. As a matter of caution, think about the flip side before buying NUGT. The flip side is that your losses will also be about 500% more than if you bought GLD.
Based on your own risk preference, a good compromise may be buying the iShares Silver Trust ETF SLV, +1.09% Please note that the risk reward in SLV is not as favorable as GLD. SLV may see about 40% more upside than GLD, but 100% more downside than GLD.
Investors may also consider the VanEck Vectors Gold Miners ETF GDX, +3.44% . GDX has about 100% upside compared to GLD, but only about 60% downside compared to GLD.
As a full disclosure, in totality we have large short positions in precious metals and miners with large unrealized gains. These short positions include GLD, SLV, Silver Wheaton SLW, +3.26% Barrick Gold ABX, +4.26% Harmony Gold Mining HMY, +0.00% Coeur Mining CDE, +7.32% ETFS Physical Palladium PALL, -1.28% and ETFS Physical Platinum PPLT, +1.63% We are hedging these positions 100% with GDX before the end of the day. It is simply prudent to control risk.
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