Only insomnia has driven me to post to this thread, which is filled with even more nonsense posts than the usual Pigg thread.
Gold ETF’s filled with “fake” gold?
It is practically a moot point, because if you read the prospectus cover-to-cover, you’ll identify so many other risks that the gold ETF’s might as well hold fake gold.
Because of these risks, when I take a position long gold, if I cannot buy bullion (such as when trading in a 401K or ROTH IRA) then I only buy the Central Gold Trust (GTU).
I’m presently DOUBLE-SHORT gold, having first established that 10%-of-portfolio position two weeks ago. Yes, so far the gold market is definitely moving my direction.
I am pleased that so many people on this thread think gold is a good buy at this price. That tells me I’m on the right side (short side) of the gold market!
When gold falls to about $700 (likely within 24 months), I’ll dump that short position and, as Hugh Hendry says (paraphrasing) “I’m gonna then back my truck up to the refinery and load my portfolio chock full of gold, then hold it for a good 10+ years, long enough for the dollar to collapse and send gold soaring above $6000/ounce!” (And that might just happen A LOT sooner than 10 years)
