Gold Portfolio Update
GOLD has reached my short-term target of $1,925.62 selling 70% of my accumulation averaging $1,679.25. Similarly, the VanEck Junior Gold Miners ETF (GDXJ) reached my short-term target selling 50% of my accumulation averaging $27.96
GOLD: 14.63% profit of 10% portfolio equity
GDXJ: 44.83% profit of 5% portfolio equity
I am keeping liquidity in Gold as my long-term outlook remains bullish and to hedge against the poor macroeconomic environment. The reason for the large profit-taking include:
- Major resistance in both charts (GOLD & GDXJ)
- Momentum indicator over-bought (GOLD & GDXJ)
- US10Y in major resistance:
-DXY in resistance and will rise once equities will stop rising
Overall, trimming on gold because of great returns. My long-term outlook remains very bullish for gold and gold miners. I believe demand for gold will continue to rise in the long term because of its material and hedge against poor international economics (deglobalization, uncertainties, recession, slow growth,...)
For personal recording
GOLD: 14.63% profit of 10% portfolio equity
GDXJ: 44.83% profit of 5% portfolio equity
I am keeping liquidity in Gold as my long-term outlook remains bullish and to hedge against the poor macroeconomic environment. The reason for the large profit-taking include:
- Major resistance in both charts (GOLD & GDXJ)
- Momentum indicator over-bought (GOLD & GDXJ)
- US10Y in major resistance:
-DXY in resistance and will rise once equities will stop rising
Overall, trimming on gold because of great returns. My long-term outlook remains very bullish for gold and gold miners. I believe demand for gold will continue to rise in the long term because of its material and hedge against poor international economics (deglobalization, uncertainties, recession, slow growth,...)
For personal recording
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