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Don't sell into the current weakness, Wells Fargo tells gold investors; instead, use any...

Don't sell into the current weakness, Wells Fargo tells gold investors; instead, use any eventual price rebound to reduce exposure to gold, silver and precious metals to no more than 2% of portfolio value. And some traders see a rebound coming. Market data has front-month at-the-money calls priced ~$5.45/contract on the SPDR Gold Trust (GLD -8.5%) vs. at-the-money puts going for ~$4.95.
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Comments (8)
  • anthonymaw
    , contributor
    Comments (46) | Send Message
    Or one could use this buying opportunity to INCREASE one's precious metals portfolio! Or are we gonna wait until the next big economic or monetary crisis to hit out of nowhere? When the $hit hits the fan everybody runs for gold. Or does anybody really believe it can't happen again?
    15 Apr 2013, 03:37 PM Reply Like
  • ltsgt1
    , contributor
    Comments (1502) | Send Message
    After I read this article,


    I bought 5 Maples at $1411. Double down on SLW at $23.80, NEM at $33.80 and SAND at $7.00.
    15 Apr 2013, 04:31 PM Reply Like
  • Guardian3981
    , contributor
    Comments (2134) | Send Message
    Actually the last financial crisis gold went down, when things get bad people sell all investments for liquidity including PMs.
    15 Apr 2013, 04:04 PM Reply Like
  • hummerh25
    , contributor
    Comments (99) | Send Message
    Remember 1980, $850. Gold again. Like I said two week ago buy the DZZ short gold.
    Have made enough to cover my longs and then some small profits.
    15 Apr 2013, 04:34 PM Reply Like
  • bbro
    , contributor
    Comments (9993) | Send Message
    Some investors have significantly higher than 2%....
    15 Apr 2013, 06:01 PM Reply Like
  • ltsgt1
    , contributor
    Comments (1502) | Send Message
    I had over 30%. I have to buy 5 Maples to keep my PMs at 25%.
    15 Apr 2013, 07:35 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1906) | Send Message
    Why was there NO TRADING for the last 40 min after an up-tick1 in Ag, and now it is rising again? up now to 22.91 but why the pause? Methinks the mkt swooned, and we are just looking at the last buying op for Ag, I bot more, wish my mkt was open, would by more SLV in here. Remember though, the worst part of an argument is finding out you are wrong. I hope I am not.
    Capt. Brian
    The Lost (and today, confused) Navigator


    PS, if ur not havin' fun, GO HOME!
    15 Apr 2013, 06:05 PM Reply Like
  • john12345
    , contributor
    Comments (329) | Send Message
    I don't understand gold. But that doesn't stop me from embracing gold more than fiat money printed in Washington. Some time in the future this financial nonsense in Washington is going to have to be settled up. Then I think gold will shine brighter than ever (if they don't confiscate it again). This drop may be a good time to buy more.
    15 Apr 2013, 06:06 PM Reply Like
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