I currently do not have the loads of paper gold as I at time to time carry, because the pricing is wrong. I have a small position in short GLD puts strike 166. I have used the various versions of GLD type ETFs in NY, London and Hong Kong, and bank-sold Zurich paper gold as substitute for bank-issued paper gold, and they all seem fine enough as far as liquidities go.
I am happy with gold because am fairly sure that had I not been holding gold (especially the physical), the funds would have been wagered on any number of more active bets, and I do not believe I should.
Gold is for savings, in my view, and not an investment unless and until the macro phase-changes to some more dire state, as it had been.
Gold is like parachutes, each family member only needs one, however defined, and have some spare to trade, to gradually increase hoard, to trade for more when demand rises. |
