Tuesday, September 14, 2010

Sold almost all Silver/Gold

Update
In an unusual move for me, I sold most my silver and gold into this spike. I held most of it in the form ZSILUS (a swiss etf). I have also sold a great deal of my physical silver. The net result has been to take precious metals from 45% net assets to under 10%.
I am not belittling Silver. It has been great to me. I bought a great deal at prices more than 45% lower. I also have owned Gold from around $500 oz. The market sometimes knows best and I am not sure whether prices will reverse right away.
Something about this breakout is not right to me.
I may put on other very low risk very high payout Hyperinflation hedges, but I do not see the imminent threat in the US.
Please make your own decisions. This was quite difficult for me, but I felt it was the best thing to do. For me.

3 comments:

Anonymous said...

MS,

Thanks for the update,I almost bought some Silver. I will await your reason before proceding.

Blog more often,take care!

Robert

Martijn said...

Happy to see gold edging higher these days?

The Mad Scientist said...

Oh Ecstatic Martijn...:)
I do not see much of a future for it though