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Gold strategy in the current economy


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Sold 1/3 of silver ETF holding at $679 late last night when I realised those nutters were targeting it.  Another 1/3 for $695 this morning and bought gold to same value.

Leaving things as they are for now to see what happens.  If they squeeze gold I'll send most of that holding.  If the silver price plummets I'll wade back in.

Not comfortable with this.  Don't full understand silver, (who does?) but am familiar enough to have made a few thousand trading in it sporadically over the years.  Now its in uncharted waters.

No idea why silver was being shorted though.  Incredibly dangerous even without these anti shorter crusaders meddling.  Discounted for inflation silver is only at 60% of the 2011 spike.

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On 30/12/2020 at 08:49, Huggy said:

Simply as part of a balanced portfolio, and also to get in on a possible moon shot. I got me a nice big fat monster box of 500 britannias earlier this year and the VAT and spread did hurt.

But, there are 2 big reasons to hold silver, and both laugh in the face of needing a 20%+ increase to break even.

I'll add that there is a 3rd big reason to hold silver, I wasn't aware of it until a few days ago 🙂

"Monster Box" did I say? No, it was "nice big fat monster box"

Still nowhere near my Bitcoin profits, but I'll make do with just 5,000%

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