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Thursday, February 28, 2019
has Gold peaked?
I've not talked about my Fidelity hobby in a while. To re-hash, I feared the FISCAL CLIFF in 2012, and hedged with Gold heavy mutual fund. The fund surged and was up 25% at one point, so when it dipped below my initial investment, I bought more. It dipped a lot, and I bought a lot more. I am not an economics person, so gold seemed a safe hedge to bounce back. I didn't exceed break even until BREXIT did wonders for the fund. It never got back to the price I bought initially, but I hedged it could, so I sold off 25% of the shares. Its peak in 2016 occurred, but I held on after fears Trump wouldn't succeed in navigating the economy. Gold plummeted. It bottomed out to pre-BREXIT over the summer, so I hedged and bought back the 25% I sold at a significant discount. Gold surged a bit and I had a feeling it could go higher, but I hedged last week and sold roughly half of the 25% I acquired since summer. No idea if I timed the market well, but I'm ahead from where I was in the summer, at least.
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