I don’t know about you; but after the the head of Europe’s Central Bank declared that Euro zone will not be allowed to collapse, one must immediately think of the printing press. I guess the sound bite means we are getting closer to QE from both Europe and possible the US.
The way I look at it, Mario Draghi’s Pledge is the catalyst to kick start the runner in precious metals.
So without hesitation, I added more EXK (silver), bought SLW (silver), and AUY (gold and silver).
My position is now heavily in precious metals (
22% 24% 30.4 %): 9.4% 10.5% EXK 6.9% 10.4% SLW 5.7% 7.7% 9.5% AUY 9.5% 9.6% LT equity 68.5% 66.5% 60% cash
Below is the weekly AUY chart. See how the over all trend is sloping up and the prices stayed on the 79 & 89 moving averages.
Notice the last bar is an up bar. Could be the start of a run?
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