Anyone here trade/bought gold, gold funds or gold mining companies? http://www.reuters.com/article/us-investment-funds-gold-idUSKBN15T337
Did these guys get back in though? That's what Stanley Druckenmiller did...sold the night of the election, but bought back in recently. I trade gold futures and have a good portion of precious metals in my long term portfolio, so I pay attention to these guys.
I use GLD in a cash account. But at the time I had a large cash position. I would not attempt to trade it when futures are so much better for that application.
There is a big difference between what hedge funds / big investors say and what they really do. In my case, I have been long gold miners since December '16, but ready to get out if dollar continues to appreciate... Usually, a correction / countertrend lasts 3 days, and we got 3 negative days in a row. So I wait and hold until tomorrow... I don't want profits to disappear ! CM
I been short Gold since 2011 and for long term have to remain short, I will buy shares in stocks on uptrend but am quicker to get out as my long term system is waiting for the commodity to go lower, but Gold had to go under $1000 for consideration to reverse. I don't have any opinion on it dealing with world economies, it just another market, but I am long silver and copper. Am sure Soros' people got fooled by lows of 2015.
One interesting observation I have is most of the famous traders/investors made their names and fortunes in a few big bets but were consistently wrong afterwards. Actually Soros, Druckenmiller are among the few who still produced outsize returns year after year. I noticed they made huge bets but when they were wrong, they cut their losses quickly and moved on or move back whenever the situation changed. They are my hero.
I use percentages for retracements in 9 year ranges, and Gold not heavy enough to buy. Usually in 9 year cycles there is a at least one extreme high/low, I want to get min 75% of each range and now I approx. do, sometimes it is exactly to the penny almost and other times like continuing to sell Indexes, why I hedge to help with continuing losses. But each futures I have targets for 25% of my position to take off to recoup losses on finding the extremes and the 75% are very huge profits. Along the way I have developed several ways to add to position(most have been 18 added positions over 2 years) and dance now many different option plays whether to hedge open profits expecting a turn, or if system shows stagnation due will sell option spreads. This is almost an always in system I developed in 1992 and has become so much more as years have past as my knowledge increases like anyone who plays same game. Anyone who does same thing day after day should get good with whatever they do, would you not agree?
If it's something you are going to check every 3 months and simply want to maintain a certain percentage of your cash account (like retirement or long term investment not on margin) I prefer GLD. No rolling out, no need to check anything. GC (Gold Futures) are highly liquid and offer easy buying and selling both long or short and require very little margin to control the equivalent of what you would have had in GLD. Tax wise all futures will be 60/40 even if you hold forever. GLD will be all long term cap gains if held over 1 year. So, if you divide it up between so called "investing" and that thing we call "trading" I would prefer gld for investing and gc for trading.