Thursday 16 February 2012

Trade Flash: We bought more XAUUSD

Long 1 Unit XAUUSD (Gold in USD holding now 3 Units) at spike down to 1707,  essentially transferring more of our weight to XAUEUR from EURUSD as volatility surrounding the Greek bailout/election dominates price action.

This positioning is also consistent with our flagship strategy of (re-)averaging into a sizeable Gold holding having already profited considerably during the "inflation bull market" of Jan '12. We remain convinced that in a global currency war (read fiat money print) commodities are the most likely to benefit.. Indeed precious metals are proven stores of value in the new "paranormal" market environment.

 We expect also to build up an XAG (Silver) position so as to be more hedged from the more idiosyncratic yellow-metal phenomena, such as the ETF and futures market technicals.
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