everybody hates gold now => time to load up especially if you've missed the 5 years old train. My bet is Gold will retest its highs in the following months. This is a terrific opportunity to express a contrarian view. All central banks are in money creation business till infinity. This is a no-brainer really.
Comments
derek2
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A nice 12% profit so far. Hold on to this baby for a longer ride or even better, think about how do you want to pass your inheritance to your children -> in helicopter dollars or the real stuff!
derek2
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finally some nice moves. Gold is for believers ;)
derek2
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honestly I have expected a bit more action to the upside after putting some brakes on the tapering talk by the FED. This might mean some more weakness in gold going forward. If you are too nervous unload here or place your stop to break-even. I am going to ride this and in case the thing drops I am buying more. I want to have 30% of my active portfolio in gold long term (might be too extreme to most) so I am willing and ready to buy more on big drops to average in. World-wide QE is the norm now.
derek2
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helicopter Ben confirmed QE infinity Yesterday undoing all his tapering talk. It is clear now that he was bluffing few weeks ago just testing market reaction. He has got the message from the markets and now FED became hostage to its own game.
This should give this position some extra boost days ahead and propel the only real money out there to the highs.
Ideally you want to own the shiny stuff physically in your safe for the long term. You can do that after make proper profit on this trade and cash-in. Run then to your bank and buy the real thing ;)