Hello Tom, however did you find your way to this backwater thread?
My contingency plan:
(a) <<buying of the dip>> for me starts at POG USD 330. I will buy all the paper gold back probably in one wallop, bringing my physical/paper metal back to 8.xx% of assets;
(b) Should god be so kind have the shorters send POG to USD 310, I will raise my allocation to 10% of assets; and
(c) I am willing to see my gold allocation go to 12% of assets.
Note: my physical/paper gold & physical platinum is at around 6% of assets and is not for trading.
On <<mining shares>>
(a) I am happy with the mining shares on hand at this moment, at about 2.8% in total (SAfrican, NAmerican, Zimbabwe);
(b) I will continue to short Put options until I collect more NAmerican and Canadian mining shares;
(c) The mining shares could catch down-draft along with the rest of the equity market, and I am comfortable to double the mining allocation via being putted, if putted;
(d) I am wary of SAfrica because I do not know the country other than its game parks;
(e) I have positions (long equity) in
Anglo Am Gold quote.bloomberg.com
Option pcquote.com
Anglo Am Platinum quote.bloomberg.com
Option pcquote.com
Durban Deep quote.bloomberg.com
Gold Fields quote.bloomberg.com
Option pcquote.com
Harmony quote.bloomberg.com
Option pcquote.com
Impala Platinum quote.bloomberg.com
Newmont quote.bloomberg.com
Option pcquote.com
PanAm Silver quote.bloomberg.com
Stillwater Resources quote.bloomberg.com
Option pcquote.com
Zimbabwe Platinum baby.boom.com.hk
and AEM, FCX, NEM again in shorted put options.
My paper gold position is literally paper gold.
We in Hong Kong can have bank accounts denominated in taels (Chinese measure, slightly more than 1.2 ounces) of gold.
The wrap accounts at the Hong Kong banks can do local stocks, various featured unit trusts (mutual funds) of stocks and bonds, various structured products (% guaranteed return, in various currencies, with potential upside tagged to various indices), time deposits in about 16 different currencies, and paper gold.
The paper gold is treated like any other currency, and is reported just so. The bank supposedly has one tael of gold in storage somewhere for each customer tael on ledger, more or less. The paper gold is useable as security against loans.
Many banks have accounts that are operable via the Internet, and as the discount on sale & premium on purchase is low, the setup is idea for any one wanting to take a view while reading the news, and move amongst the currencies and gold 12 hours a day.
The USA based kitco.com has a paper gold and platinum product as well.
Chugs, Jay |
