One of the sharpest minds on Wall Street sees things our way. https://www.cnbc.com/2019/06/13/bond-king-jeffrey-gundlach-i-am-certainly-long-gold.html
Good Morning Sean
Based on this post, your previous post by Paul Tudor and your position on metals, gold specifically, what is your current assessment of GOLD (Barrick)? I've tried searching but too many other comments related to gold in general appear in the result and not enough specific to Barrick to help with my question.
I've been struggling for some time whether to average down on Barrick since my initial position back in the UWR days was a single purchase. I closed my position in our gold ETF for a 21% gain awhile back and have since gotten back in after a correction and up another 12% currently. I am in our latest metal ETF with 1 average down so far but still underwater. I've not gotten into former metals ETF because of my current GOLD position and now it's flirting with 52 week highs so i wouldn't jump in there at this stage.
I understand the talk of a significant market correction on the horizon and gold being a safe haven but I'm concerned that 25% of my portfolio would be in metals. I've been in Barrick since 2012. It seems to have broken the $13.70 resistance level it's been bouncing against for the last year. If your opinion of Barrick is still sound i may pull the trigger, average down some and just say a prayer that a weighty hedge against the correction will ultimately be a good decision.
Thank you for all you offer and for your thoughts on this.