Monday, 15 April 2013

Buy or sell as gold price plummets?

Can I really make a sensible decision about whether to buy or sell now?

I've got about £1000 standing by but I'm not sure I'm aiming to buy anything yet, or sell anything.... but I might have changed my mind by tomorrow.



 My small portfolio, which now includes one share of Personal Assets Trusts (PNL), looks pretty shredded at the moment.



As mentioned before, the worst perfomer, BlackRock Gold and General, was a kind of accidental investment.

Now physical gold losses have racked-up too I need to remember why I made this investment in the first place and decide if really want to cancel these positions.

On April 10 Goldman Sachs analysts said the gold price would fall to $1,450 by the end of 2013 and carry on falling through 2014 to $1,270 an ounce. I didn't know what to do then - so I didn't do anything.

And the last time I looked gold was trading at £1,351. I still don't know what to do but I'm not as worried as used to be when I was looking at this stuff all the time.

I have tried a couple of times to work out what I am doing and why, but due to no longer looking very often it feels a bit like reinventing the wheel.

The first attempt looked at whether I should take action frequently: http://goldetfinvestor.blogspot.co.uk/2012/01/gold-price-falling-on-monday.html

The next tried to assimilate the advice I got: http://goldetfinvestor.blogspot.co.uk/2012/01/identity-crisis-at-gold-etf-investor.html

And that was the nearest I got to working out how to get through times of indecision... not very far.





I don't think anything has changed in my rationale - which was originally more to do with educating myself than making money (or losing it for that matter).

It may be another 10 days or another 10 years before I can get the same price for these shares.
But how much gold will be left as fees chip away on the gold they contain? I'll have to work it out. 

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