IMO, all investors in the Gold sector need to grasp the...

IMO, all investors in the Gold sector need to grasp the important difference between cyclical share prices and secular market trends.

l am bullish on precious metals and miners. In fact, very bullish on a secular basis.

For me that means tempering shorter term expectations and the very real risk of a market sell off that may take everything down with it, and the longer term likelihood that fiat will eventually destroy itself.

On that basis, l will resist the urge to bring forward any further buying except for tactical short term trades, which l will sell if equity prices rally.

This is to raise cash for the higher highs that are likely to follow later next year after sentiment sours, confidence is sapped and investor liquidity low.

As one of many long term holders of Perseus, the difference between making money and making big money relies on taking some profits in the bull runs and buying in the troughs. One does not need to pickk tops or bottoms but rather capture and respond to cyclical highs and cyclical lows. Few stocks go up in a straight line.

PRU is around a cyclical low and good buying at current prices and recent lows. I am expecting a rally to $2 and change and if it comes, will gladly take a 10% to 15% profit. If it continues to run, all good. If the price pulls back l will be better placed and prepared to buy again.

This strategy is far from perfect, but helps keep me liquid. Am expecting isolated bargains in 2024 will be throw up in industrials while debt free cash flow miners be bid up.

We all have our in individual approaches to investing. For younger readers, staying level headed in bull and bear markets is easier said than done. To some extent, we all get caught up in the mood of the day, but having a plan and sticking to it helps.

PRU is definitely a quality miner with sound management and a fantastic Balance Sheet. It is a keeper.

GLTASH