For goldbugs from safest to riskiest gold investment (1 riskiest - 5 safest). If you want to catch J Sinclair $50k/oz... few options there.... or diversify accordingly
1) Gold explorers with debts
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2) Gold producers with financial problems, debt & uncertainties
3) Gold producers with no debt & positive cash flow
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4) ETF (paper gold), problem is the vault may run out of gold during intense crisis.
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5) Bullions (real deal)