Monday, June 10, 2019

gold

I have a bad hobby of following my IRA. I have been looking toward diversifying my account into multiple dividend yielding mutual funds, but I'm still mostly invested in a gold related mutual fund. I am not the sort of person who looks at sunk costs easily. Gold was doing well when I first got into it at bargain $43.10 a share. It jumped to above $55 before sinking to $15.90 a couple years later. A couple years later, Brexit bumped the fund above $27, so I was above break even due to my buying and holding throughout the dive.  I got greedy and didn't sell it all off to break even, only to see the dip of $15.37 last year. I bought up the same amount of shares I sold in 2016 and sold off gradually after it hit upper $19. I was selling at 5 shares a day so I'm not making big returns beyond 30%, but I'm seeding my diversification towards year-round growth. Current break even amount seems to be roughly $23.50, but I'm thinking done selling until it hits $24.59. I'll hold, I've held on for nearly 7 years, I can wait out another 7, I reckon... but the chance for growth by converted to growth funds makes me want to cut chunks now that will grow quicker without having to hope for market flukes.
I read last week that tariffs have been blamed for loss of earnings made from the tax cut. Of course, the market crashed a bit a few days straight only to bounce back.
I doubt a $5 jump will come, but interest rate cuts seem to suggest gold will be  increasing in value throughout the summer.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.