Tuesday, January 7, 2020

Holding Gold: Now

     Well, maybe you heard:  the price of gold reached a 7-year high yesterday, achieving a price per ounce of $1566.   Take another look at Grandma's wedding band, that keepsake you've been holding for 30+ years.   Sell or hold, the age old question.   Your kids don't want it; your wife has her own; and you might lose it anyway.  It's probably worth $200, maybe more.  Hmmmm.
     Newmont Goldcorp and Barrick Gold Corp also benefited.  Hold their stock?  Good for you, but you wish you had a few hundred more shares, right?   Maybe it would make sense to hold a few Krugerrands or maybe Mexican 50 Peso?  The Mayor likes the big peso because it's a nice looking design and has more than the standard 1 ounce wt.  Palladium soared over $2000 the ounce-incredibile.  Platinum appraoches $1000/oz.
      How about silver?  It has gone over $18/oz to $18.40.  Where are those Kennedy halves I used to hold?  Or did I give them away last Christmas to the kids?  I can't remember.  Oh, well.  Keep your eyes open.  If gold reaches $2000/oz, I'm heading down the hill to Highway 49 with shovel and gold pan-in an hour I can make 5-10 grand easy, even in a snow storm.  Bring it.
Eureka!   

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