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Rated: E · Letter/Memo · Finance · #2210812
About gold as an investment

I see gold as a superior assets to cash. Part of my savings are invested in gold. I don't 'trade' gold and never go short on the metal. My rule of thumb is to hold gold if it is trading nearer the 30-day top of its range and not to hold it if the price is closer to its 30-day bottom. But I never short it. I believe that in the long term gold will outperform any asset class.

There are two significant 'problems' with gold: 1) Storage. 2) Risk of some future government confiscating it. The first of these is manageable, the second less so.

I will post here my thoughts/news re gold from time to time.

20 Feb 2020
Gold is trading at GBP 1,238 which also is the 30-day high. The 365 day profit is 20.00%. Because of the Chinese corona varus there is a general expectation of a potential worldwide recession which is boosting the gold price.

23 Jan 2020
"Gold used in industrial and dental applications declined by 2% YoY in Q4 of 2019, to an estimated 88 t, as weakness in all major segments dragged consumption lower. On an annual basis, industrial demand also eased 2% to 382 t. "
Interesting although I don't know what if any impact this may have on the price of gold.

21 Jan 2020

"The Bank of Russia has just announced that it bought 159 tonnes of gold in 2019, bringing Russia's strategic gold reserves to 2271 tonnes. All eyes are now on 2020, as Russian gold reserves look set to surpass those of France (2436 tonnes) and Italy (2452 tonnes) later this year."
(source: BullionStar)
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