Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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From: BitterSalt	4/2/2013 8:54:18 PM
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My gold work: Long on SGGDX (401K), GLD (IRA) and ABX . ABX at about 4 year lows; GLD at mid 2011 levels; SGGDX at mid 2009 levels. I have continued to strengthened positions in all 3. ABX is the short term investment. A target of 56 in the next 18 months is not unreasonable. Even if there is no technical evidence of a turn around soon, I am prepared to add, in wide spans on the way down ie $2. ABX is no loser. It is "best of breed", like GG, in a dipping sub-sector. I looked at physical gold but could not figure out a good way to buy, store or sell safely and cost effectively. I simply do not know how the game works. So, I pay the ETF guy (GLD) for long term protection from market dips during retirement; take the risk with ABX and hold SGGDX (5 star rated fund) with its 15-17% physical gold exposure and diversified exposure to miners, etc. All in all, gold stuff is about 15% of my portfolio .. not really comfortable with more than that.

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