Last Summer when Gold ran into those former highs from 2011, it only made sense for price to recognize that overhead supply that had been in place for close to a decade prior. Even if only temporarily, that was big time resistance way back when, sending precious metals tumbling. So to ignore that seemed irresponsible (see Sept 3rd Conference Call).
Now, at the time we did not know how long this process would take, or if it was even necessary. No one knew. My suspicion, at the time, was that it could take months, maybe even quarters. But maybe longer, or perhaps would never even break out at all. I didn’t know. No one did.
So we sat back and waited while basically every other asset class on earth ripped higher, except bonds. So you could have owned pretty much anything but gold and treasury bonds and done great since Labor Day.
Now, while the market has punished owners of gold, it’s treated Platinum and Silver investors much better, especially in 2021. This makes the Equally-weighted version of Precious Metals MUCH more attractive than Gold on its own: [Read more…]