As noted yesterday, I believe it’s time to be a buyer of physical gold and silver again. For gold, half here around $4,400, and the other half around $4,000 or two consecutive closes above $4,800.
The absolute worse case scenario is around $3,500 (but many reading will need smelling salts to live through such a scenario), but I personally have no issues if I’m already all in if this unlikely scenario occurs.
Silver meanwhile, is the stronger of the two and dare I say this – is being dragged down by gold. I most definitely would be a buyer here and for many, hold some purchasing power if it gets drag lower to it’s previous reaction low around $60.
In regards to my personal portfolio, I continue to be a buyer (bought another 170K shares yesterday) of Northisle Copper & Gold. I stated several weeks ago I be buyer again of both RDS Mining and Group Eleven Resources under $1 Canadian. I would hold Silver Crown Royalties.
I may go back into GDX and GDXJ. I will speak more to them and others on my X page.
I received lots of flack for bailing on physical gold and silver earlier this year, but a much needed and welcomed correction has indeed occurred.
It’s time to become him again:
