Monday, July 19, 2010

Stay The Course, TMFSinchiruna Advises

The current slump is frustrating, but TMFSinchiruna over at the Motley Fool says it's best for gold bulls to hold on and stay the course. He says he himself has traded some of his PMs, trying to sell on the upswing and buy when lower, but he only does so wtih 5-10% of his allocation. He said it's best to stand pat all told. [Marc Faber calls that kind of trading "be[ing] clever," and he strongly advises against it because of the risk of gold shooting upwards and leaving the trader buying less for more.]


TMFSinchiruna also points to a significant item at the bottom of the same entry: Zhang Monan, a researcher with the State Information Center think tank, says the PRC should gradually unload its Treasury securities now that demand for them is high. Monan also advocates moving some of the money into hard assets. [Full story here.]

Sinchurina has also linked to a real heartbreaker of a story, detailing the trouble that an old woman, afflicted with cancer had in redeeming her silver bullion certificates from Scotiabank. The Toronto-Dominion bank was more accomodating.

2 comments:

  1. Damn, all this prognostication is looking so dumb now.

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