The REBIRTH of the Precious Metals

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?

Good Hunting!

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