Unless you like to play a bit in the p/m market, this is all pretty meaningless and you should disregard.
Nice pop past few days from a bottom around $1195 early last week. Up $5 to around $1205 at mid-day. The miners, however, appear to have popped more than that $10 gain might suggest. For those who don’t follow the price ... for more than a year the price fluctuated between about $1220 to near $1400. Went through several cycles back and forth. Than, about 6 months ago gold (along with silver) went into its recent deep dive - finally breaking below $1200.
I’ve always maintained about a 2-3% static weighting in a mining fund - as another form of diversification and a possible inflation hedge. Plus, I find following the metals markets enjoyable. Would have begun an additional small speculative position a week ago when OPGSX got down near $13. However, the money needed to come out of Oppenheimer’s short term government bond fund (OUSGX). It hadn’t quite met their (somewhat unusual) 30-day minimum holding period. While the funds are now available, I’m not interested in speculating (actually gambling) with the fund now up to around $13.50. Chalk that one up as a missed opportunity.
