Wednesday, 9 May 2012

I bought gold today

On the London Stock Exchange it looked like Physical Gold ETFs were being bought.
The busiest was Source (SGLD) with £67 million bought vs £66 million sold.

Fear mismatch? 10 month low for Sterling gold ETF not 4 month

I suppose this should be seen as a good thing -another proper buying opportunity for gold. But the reason it's a buying opportunity is because it's scary and I'm not immune to that fear.

However there is a mismatch, the media chat about impending huge falls in the gold price is nothing like it was back in December 2011 - at least not yet - but I think it's because in dollar terms the lows still aren't below the December 28 $1,523 low.