I rarely talk about individual trades or my investing opinion on individual investment or asset classes but will make an exception. I think it is now time to get very long gold. I think the most obvious sort of combo trade is short the British pound and long gold but gold will probably do fine on its own. There has been no doubt in my mind that gold over the next three years should do very well and I have been waiting for months from a timing perspective to increase a very small position. Today gold finally broke higher in a major way and I think we could see another 100 to 200 quickly. I like the setup also because if I am wrong I believe I am only wrong on timing as like I said I believe it is likely to be very good strong term. Money seems to be moving in and I think it smart money.
I also think this could carry over into other commodities for awhile. Oil was up strong today as was other commodities.
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