iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,179 Blog Posts

Gold Continues to Outperform, Quietly

Barely anyone I know is long gold and I rarely hear traders discussing it. Yet, the idiotic metal is now at 7 year highs, once again threatening a decade long consolidation. The only way gold gets interesting, in my opinion, is over $2,000. I know, it’s ripping. Ten percent of my quant is long gold, for reasons separate from my own opinions. I think, obviously, there is price momentum, but I also believe there is price resistance at and around these levels.

One year return are terrific. Considering the rest of the basic resource space has been a disaster, at a minimum, you should replace your oil and coal and copper stocks with something gold or silver. But to buy up here for a trade, in my opinion, isn’t very high probability.

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3 comments

  1. ericbakerbruce

    I understand most the guys and gals on this site are traders (day and swing) but for you investors out there – Agnico Eagle got hammered (and is still getting hammered) for the unforgivable sin of guiding production down by 4% in 2020 while at the same time increasing the dividend and reporting strong cash flow. Cash up 6% y-o-y while debt decreased 21%. Maybe it’s time to buy and hold on to it for a short while….

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  2. sierra water

    I will liquidate all my gold/silver positions when the death’s-head hawkmoth resurrects from the dead and quantitative monetization of the world’s fiat is the last hope.

    Sierra Water
    https://www.youtube.com/watch?v=NoA89ACTflk

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  3. indie

    Gold as in GOLD RECORDS!

    nice one lads.

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