Is it time to take a chance on NUGT?
DoubleEagle59
Posts: 8,314 ✭✭✭✭✭
This 3X Gold miner's ETF looks attractive.
Mighty volotile but it seems priced very low right now.
Any thoughts on this would be very much appreciated because I'm thinking it's time to get in.
Or am I trying to 'catch a falling knife'?
https://ca.finance.yahoo.com/q?s=nugt&ql=1
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
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price is totally dependent on gold miners ETF GDX. GDX is 85% or more dependent on price of gold. Price of gold heavily dependent on a falling dollar index. Dollar index heavily dependent on weaker euro and yen. You call it. Also consider the opposite bet ETF DUST for the decline in GDX.
Read the other NUGT thread.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Lots to consider....thanks.
Yes, I saw the other thread about 20 minutes after I posted mine.
Good thread and I'll keep reading it.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
If I were a betting man, I would expect a short term bounce in gold soon. As more of the planned policies are detailed and more holes are found, the euphoria will wear off. We are also starting to see some fighting within the new administration about nominees and policy direction. The recounts will also start taking more and more news time. All of which increases uncertainty and uncertainty is generally positive for gold.