@realmoney
Sep 21, 2020 | 02:45 PM EDT DOUG KASS
Whither Gold?
I originally purchased (GLD) in April 2019 at around $120/share.
The last sale is about $179 -- down by about $4.20 today.
I have traded gold well over the last two years -- probably engaging five times, possibly
Sep 21, 2020 | 02:45 PM EDT DOUG KASS
Whither Gold?
I originally purchased (GLD) in April 2019 at around $120/share.
The last sale is about $179 -- down by about $4.20 today.
I have traded gold well over the last two years -- probably engaging five times, possibly
more.
I don't have a position on but I want to have a portion of my portfolio in gold, but I have been laboring with what level I should be buying.
Here is what is keeping me from adding in today's schmeissing:
* The reasons to own gold seem too obvious -- the debasement of fiat
I don't have a position on but I want to have a portion of my portfolio in gold, but I have been laboring with what level I should be buying.
Here is what is keeping me from adding in today's schmeissing:
* The reasons to own gold seem too obvious -- the debasement of fiat
currency through expansive monetary policy and wanton fiscal policy.
* Sentiment is already bullish. My impression is that too many are optimistic about the outlook for precious metal prices.
* Everyone who wants to own gold might already own some.
* The peak Covid-19
* Sentiment is already bullish. My impression is that too many are optimistic about the outlook for precious metal prices.
* Everyone who wants to own gold might already own some.
* The peak Covid-19
pressure/panic is likely over, so gold could sell off hard on good therapeutic and/or vaccine news.
* How much longer will real interest rates stay so low? Probably not too much longer.
* If the capital markets sell off more severely (from here), gold might serve as an ATM
* How much longer will real interest rates stay so low? Probably not too much longer.
* If the capital markets sell off more severely (from here), gold might serve as an ATM
(a cash raise) for traders and investors.
On the positive side, precious metals have been consolidating for a month and are approaching oversolds:
I am torn. @jimcramer @tomkeene @SquawkCNBC @cnbcfastmoney $GLD @threadreaderapp unroll
On the positive side, precious metals have been consolidating for a month and are approaching oversolds:
I am torn. @jimcramer @tomkeene @SquawkCNBC @cnbcfastmoney $GLD @threadreaderapp unroll
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