Monday, April 11, 2011

Going for Gold

Yeah, there's a storm on the loose, sirens in my head
Wrapped up in silence, all circuits are dead
Cannot decode, my whole life spins into a frenzy
--Golden Earring

Bot some physical gold today. First physical purchase of the year. It's difficult for me to buy in a rising market. Plus, selection on venues like ebay has not been all that great.

Given the macro state of affairs, however, gold could be strong for quite some time.

My 2011 goal is to add 3-5% by weight. If prices stay strong, then perhaps I'll try to 'dollar cost average' some coins each quarter.

Should gold price take a significant dive, then I might get more aggressive.

position in gold

1 comment:

dgeorge12358 said...

It will be seen that it is not necessary that the paper money should be payable in specie to secure its value; it is only necessary that its quantity should be regulated according to the value of the metal which is declared to be the standard.
~David Ricardo, 1817