Gold Taps All Time Highs — How I’m Playing The Next Leg
I might be making some slight modifications to my gold and silver miners positions, if this bull run in gold continues.
If you read my blog, I’m sure you’ve already heard that gold has hit new all-time highs tonight. This, as I often joke, means that every single person who has ever recommended gold to go up in the history of forever—in nominal U.S. dollar terms—has been proven right as of this second.
Of course, I’m being a little bit hyperbolic, but what fun would it be to have a great year and crush the gold-and-silver miner trade if we can’t joke about it?
Over the weekend, I had two conversations that made me think about how I could modify my gold trade going forward. It feels like we’re at the beginning of a serious realization by global investors that the precious metals are officially in a bull market.
I’d even say we’re in the very early stages of it becoming a consensus trade—though I still think there’s significant runway left, as I discussed with Peter Schiff in my interview with him on Saturday.
On Tuesday, I plan to make a couple of moves in gold and silver that I hope will capture some additional upside as the bull market continues and potentially becomes a more mainstream story if prices hold these levels.