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Darwin’s Weekly Reads – Gold on Fire Edition

by Darwin on September 17, 2010

With gold touching a new high this week and Treasuries coming off their record highs, there’s no clear direction for the market, interest rates or the economy as a whole.  Equities have slid sideways for weeks now and the unemployment numbers have been roughly meeting consensus (slightly below typically).  There’s the typical mix of optimism in some circles and pessimism more broadly, especially amongst small business owners.  The only thing that really seems to be working right now is the gold trade.  Whether or not the trend continues, I make no predictions.  I have a small position in GLD, nothing substantial.  If you’re dipping your toe, make sure you understand the various tax consequences and the myriad other gold investment types before jumping on what may be the latest bubble.

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{ 5 comments… read them below or add one }

Crystal@BFS September 17, 2010 at 9:04 pm

Thanks for the mention!

Reply

Evan September 17, 2010 at 10:29 pm

Do you plan on holding GLD for a long time? I get the reasoning WHY but it always shocks me the fact that gold hasn’t gone anywhere since the highs of the 80s

Thanks for the mention.

Reply

Darwin September 17, 2010 at 10:36 pm

I’m holding a couple grand as a “just in case all hell breaks loose” hedge. It’s not a sizable position and if all hell breaks loose, it wouldn’t make me rich…perhaps just allow me to buy some stocks I like at insane discounts like what happened in Mar 09. So, I’ll probably keep the position open until it doubles or does nothing.

Reply

Financial Samurai September 17, 2010 at 10:42 pm

Gold up! Stocks up! Rates down! Good times!

Reply

Craig September 20, 2010 at 9:02 am

These days there’s no telling what the market will do. One day the news is optimistic the next it’s bad. Yet companies are still worth more or less the same, no?

Thanks for the mention.

Reply

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