copyright1997reloaded
Thinks s/he gets paid by the post
No, not selling. Buying on pull backs (miners) who get hit when the market gets hit and then have been recovering. Gold is 1-2% from its high, GDX is about 4-5% off its 52-week high (but a lot off its all time high), GDXJ between 5 and 6% off its 52 week high, but tons off its all time peak.You guys who have gold doing anything with it? I have a bunch of 1oz maples that I paid a lot less than the current $2900+ price. Wondering if I should "diversify" out of them and put it in bonds.
The gold chart is still a thing of beauty with a many-year cup and handle which it has zoomed out of. If the USA is going in the dumpster (which some posters seem to think), then the US $ will fall against other currencies which will help Gold (priced in US $). If inflation isn't beat (I'm in the camp and have been in that camp from when various officials were calling it "transitory") that also is a positive for gold. If the economy starts to "falter" we will eventually see panic in "fixing" the problem. There is an old wall street adage: "Wall street will stop panicking when policy makers panic."
Chart_20250312
Disclaimer: Part of the reason I upped precious metals (and associated miners) exposure dramatically (from almost nothing in 2012 to maybe 8% today is as a hedge. It is one of the few ways I can hedge my large exposure to the US financial system.
ETA: A gold discussion thread: Gold - 13 year cup and handle breakup