twelvebuttons re: Gold, when to buy?
Yesterday when we did the post was intended to be a heads up to buy timing wise.
In other words, gold had withstood two solid negatives and held up rather well and because of that relative strenth, we upgraded our opinion on it from a traders viewpoint.
Gold is up $14 today but that does not change the picture.
It still looks like a trading buy for an indefinite period of time.
If one were buying for long term and had little to no gold now, We'd put away some here then wait and see if there is a mid summer swoon which often occurs. There is a fair amount of "seasonality" that gold conforms to.
As to what kind of gold, that's kind of tough to answer
The nice thing about physical [like gold eagles] is that you are not likely to make trading sales of it. If it's in a safety dep box or similar, you can't just hit a button on a computer and blow out of what was intended to be a long term holding.
Nothing wrong with GLD although the annual fee chips away at NAV a little each year.
Gold stocks? ABX being so big will probably participate well with little risk of it "blowing up". Royal Gold RGLD seems good.
Others know individual gold stocks way better than we do.
We're keeping the faith with silver long term.
SLW and SSRI are both silver stocks with good management....neither likely to surprise with a blowup some morning because management was stupid.
We have physical gold/silver, SLV in quantity, pretty big position in SLW. We might add GLD or GDX to an IRA with idle cash.
We did not even think of doing it yesterday, so thanks for asking the question because it helped us focus on specific action a bit more.
Good luck,
F
News 
Market Data 
Discover 
AI
