Great articles this week. Friday I sold my Leveraged gold position (up 70% in six weeks) and bought into Almadex and Sierra Madre. Means I can now stop watching my portfolio every day and touch grass. Really enjoying The Secret History of Gold. Interesting that BTC fear and greed index hit extreme fear levels this week (23/100).
Yes, Daily Mail has recently had a couple of big articles about gold – based on recent observations that can indicate significant falls in price fall within a couple of weeks, after the public has been sucked in due to FOMO – e.g. their couple of articles on Microstrategy around its peak, the share price has been a disaster ever since.
However, I recall when Bitcoin hit a parabolic peak of almost 20K in 2017, when I walked into the office everybody was talking about it (none of them are actually interested in financial stuff), in the pub at lunchtime the people at the table next to me were talking about it, every advert in the tube carriage was about buying crypto – this hasn’t happened with gold yet in my personal experience, so if and when that happens it could well be the final ‘top’
Great articles this week. Friday I sold my Leveraged gold position (up 70% in six weeks) and bought into Almadex and Sierra Madre. Means I can now stop watching my portfolio every day and touch grass. Really enjoying The Secret History of Gold. Interesting that BTC fear and greed index hit extreme fear levels this week (23/100).
Thanks 🙏 Zak. Good luck!
Where are you buying sierra madre? I can’t seem to find it on ah bell or Freetrade
I bought on Hargreaves Lansdown
I use Interactive Investor
https://www.ii.co.uk/recommend-ii?ii_referrer=5bcdace2-a344-405b-b8c3-d3c83ac296d5
Ref current gold and silver price - wasn’t it Warren Buffet who said be greedy when others are fearful and fearful when others are greedy!
Attributed I think but yes
Still waiting for the Economist cover…
True
Yes, Daily Mail has recently had a couple of big articles about gold – based on recent observations that can indicate significant falls in price fall within a couple of weeks, after the public has been sucked in due to FOMO – e.g. their couple of articles on Microstrategy around its peak, the share price has been a disaster ever since.
However, I recall when Bitcoin hit a parabolic peak of almost 20K in 2017, when I walked into the office everybody was talking about it (none of them are actually interested in financial stuff), in the pub at lunchtime the people at the table next to me were talking about it, every advert in the tube carriage was about buying crypto – this hasn’t happened with gold yet in my personal experience, so if and when that happens it could well be the final ‘top’
Yes. Maybe. And that was only an interim top. Bitcoin is a lot higher now.