Had to make a couple of changes following the stop-loss and subsequent loss of nearly USD500. I took the $3508.65 in cash and allocated 1/3 (approx) to each open position. AUD value of the portfolio is looking better than the USD value thanks to the declining value in the Oz dollar.
Have you ever found an easy way to sell call options over the price of gold so that we can derive an income from a holding of physical gold.
I keep trying to find an Australian who has done it so I can follow what they have done. You need an American or Japanese broker who trades options. And you need this broker to be able to buy shares as well. And you need the broker to be willing to hold the shares as collateral, so that you don’t need to put up cash. It would be so easy if there was Options over the gold price in Australia, but there isn’t
Managed to claw back the USD500 or so I lost when my short silver play stopped out. I'll keep monitoring the POG , may swap out GLD for another ETF if I see a convincing breakout above the current S/R zone over the next month or so. First time all 3 assets have been in the black. Looking better in AUD thanks to the commodity token our government issues. Current value just over AUD64 000 a 4.2% return over the past few months. Nothing to get excited about admittedly. Depending on the direction of the POG the other gold ETF may juice returns a little.
If this was a play portfolio in metals I’d go 100% into gold in usd. The aud will probably drop and gold will probably go up giving a super charged return. But it’s not risk free so metals would not be my first choice of investment because making money elsewhere is so easy right now thanks to the Middle East. I like to use commonwealth bank as the example. Cba shares were about $101 before the Middle East erupted. the current Middle East dramas are either going to get worse or continue to stay on knife edge. Even if there is some form of truce no one will believe it. There is virtually no chance that things will be better in the next 4 weeks than they were before the strife started. so an investment that bets cba will not rise above its prewar price in the next 4 weeks is probably a 90% certainty. There are not many opportunities in life to have a 90% chance of winning when it comes to money.
Up 2.32% in USD ($918) over the past 5 months, even with a USD500 loss after being stopped out with my short silver play. Lessoned learned there, don't short markets, go long in something.
