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clock Created with Sketch. 14/03/20
21:19
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Originally posted by ChristopherC:
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I headed warnings from people like Eshman that we were in a Banking induced bubble and were due to have a serious drop in equity markets. Corona Virus was the pin that has burst the bubble. My point of difference to Eshman is that I moved funds in my super from the growth fund into conservative fund 50% and property fund 50% and in my trading fund where I can buy/sell as I wish, I reduced my holding by about half and converted them to cash but kept all my gold stocks as I am of the opinion that even though I expect some volatility, I also expect that the gold price will rise due to downward interest rates and governments printing money to try and support their failing economies and don't doubt we are potentially in for more selling in markets and have been slowly deploying capital and taking advantage of subdued pricing. I think Eshman is negative on all aspects of equity markets and won't get back into gold stocks until a bottom clearly materialises, so we differ slightly.
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I have basically followed the same strategy by holding/buying gold shares and selling others. I disposed of a few goldies over the past few days that I think have become over-valued and hyped up. Friday was a bad day but with the strong US bounce up on Friday, I hope to sell off off some more non-gold and maybe a few goldies. I will probably keep cash while waiting a while and at the same time evaluating the POG direction along with global markets before picking up more golds. In lieu of cash I see physical gold as an alternative and lean to PMGOLD in view of its liquidity and low holding cost.
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