Quite a week, eh?
by JDH on August 1, 2020
Gold has done it; reaching a new, all time high. For someone who is heavily invested in gold stocks, I’m quite pleased with that development. My portfolio is looking great.
So, now what?
It would be unusual for gold to make a new all time high, after trying for nine years, and then crash. That’s not how it typically works. Profit-taking, sure, but a crash, unlikely.
I assume we will see closes above $2,000, and that will make the news, and everyone will know that gold is at an all time high, and the average investor will take a position, because we don’t think anymore, we just buy what’s hot, and that will drive gold higher.
But, I also expect volatility, so having cash on hand is never a bad idea.
That’s my plan.
Very simple.
More, next week, if anything changes.
Quite a week, eh?
by JDH on August 1, 2020
Gold has done it; reaching a new, all time high. For someone who is heavily invested in gold stocks, I’m quite pleased with that development. My portfolio is looking great.
So, now what?
It would be unusual for gold to make a new all time high, after trying for nine years, and then crash. That’s not how it typically works. Profit-taking, sure, but a crash, unlikely.
I assume we will see closes above $2,000, and that will make the news, and everyone will know that gold is at an all time high, and the average investor will take a position, because we don’t think anymore, we just buy what’s hot, and that will drive gold higher.
But, I also expect volatility, so having cash on hand is never a bad idea.
That’s my plan.
Very simple.
More, next week, if anything changes.