Pinned straw:
Came across this interesting chat (source here)
Here gold on its own
Hindsight is 20-20, but really wish I'd bought more of this on SM.
Thinking of upping the weighting actually...but hoping some Straw people can talk me back from the ledge.
There's an inner voice that is saying "you're over thinking the "debasement trade".. besides, macro musings may be fun but they are extremely difficult to trade...it's already gone up a lot anyway..its just a lump of largely unproductive metal... And you've never been a fan of gold .. and you're probably just letting this stupid Bitcoin obsession tarnish your thinking... And how many eggs do you really need in the hard money basket anyway.. .and so on, and so forth..
Is the inner voice right? Give it to me straight -- I can take it!
https://www.youtube.com/watch?v=h_k452hotzE
Great interview with a gold enthusiast. Bit ominous regarding China - he suggests China is both the largest producer and owner of gold (despite lying about this). Gordon Brown sounds like the worlds official biggest moron.
You'll be pleased@Strawman that he likes both gold and magic internet money.
I tried a few years ago to add either this one or QAU - however there was no pricing data, hence no graph, so the buys did not go through here at that time - coz one or the other was one of those ETPs that S&P did not provide data for @Strawman - you could buy it in real life, but not here. I see that has changed. @Rapstar has held GOLD since 2022 so it's clearly been available here for at least that long. Options here for gold bullion ETFs/ETPs now include GOLD, NUGG and QAU (which is currency hedged), but PMGOLD is still not available, and PMGOLD would be my real life choice for gold bullion exposure because it is backed by the WA Government and run by the Perth Mint (the PM in the name) and they allow holders to exchange their units for take-home physical gold bullion on request. It also has one of the lowest management fees, I think there is only one that is lower (can't remember which one and too tired to check tonight). Anyway, gold bullion is a good option for people who want gold exposure but don't care to do the company research to get that leveraged play through a gold company that owns a lot of underground gold and is producing it profitably.
In the past 10 years the gold price has mostly outperformed gold company indices like GDX and GDXJ (the junior goldies) so gold bullion ETFs have done better most years than most gold companies, and a lot of that has been due to poor capital allocation decisions by many gold company management teams so they destroyed value instead of creating it, but right now we're in one of those rare periods where the better gold companies are running well ahead of the gold price and really outperforming gold bullion ETFs, and that has recently trickled down as far as the junior developers - and even the explorers are getting some love. It won't last forever, so for a 50 year hold, perhaps a gold bullion ETF will likely produce better TSRs than a basket of gold companies, but right now - and this calendar year - the gold companies have been the place to be.