"plan for the worse, and hope for the best" should be every traders most fundamental dictum - I'm not convinced that higher gold prices are "inevitable". This underestimates the power of the major fiat currencies to take counter measures .... very high gold prices would mean substantial widespread financial instability which would be very bad for markets including gold stocks ..... POG above 4000 would surely imply a very weak A$ and that would be a major disrupter would it not ? ..... GDX and GDXJ remain equivocal and precious metals overall remain a small part of major portfolios. Relying on CB's for gold purchases is fraught IMHO .... take profits when one can and then "hope for the best".
RED Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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