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If I could find a 1X inverse gold / miners or p/m fund I’d own a small hold. Unfortunately, they are all 2X and 3X. I have followed the metal since 1977 - being in and out several times. Simply do not understand the extreme run-up the past couple years. Mining funds lost 60-70% over only 2-3 years during the metal’s last significant bear market. OTHO, Bill Fleckenstein, who recommended gold early (about 5 years ago), sees it going still higher as the “retail crowd” warms up to it.
From BRAVE’s AI: “2015 was another extremely difficult year, marking the end of a prolonged bear market that began after 2011. By late 2015, the HUI gold miners index had plummeted 85% from its peak.”
Watching NLSAX, favorably mentioned this month on Charles Lynn Bolin’s “low ulcer” list, should valuations improve.
@Hank, I cover gold in one of my next articles for December. It complicated. Here is a prelude:
"The share of gold and U.S. Treasuries that central banks are holding was relatively constant for the two decades from 2000 to 2020 as shown in Central Banks Now Hold More Gold Than U.S. Treasuries by the Visual Capitalist. That changed in 2020 when banks increased the share of gold while decreasing the share of U.S. Treasuries. "
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From BRAVE’s AI: “2015 was another extremely difficult year, marking the end of a prolonged bear market that began after 2011. By late 2015, the HUI gold miners index had plummeted 85% from its peak.”
Watching NLSAX, favorably mentioned this month on Charles Lynn Bolin’s “low ulcer” list, should valuations improve.
"The share of gold and U.S. Treasuries that central banks are holding was relatively constant for the two decades from 2000 to 2020 as shown in Central Banks Now Hold More Gold Than U.S. Treasuries by the Visual Capitalist. That changed in 2020 when banks increased the share of gold while decreasing the share of U.S. Treasuries. "
https://www.visualcapitalist.com/central-banks-now-hold-more-gold-than-u-s-treasuries/