By: John Fisher
People are bailing out of SPDR GLD. ETF liquidations have resumed with the SPDR gold ETF holdings falling to the lowest level since February of 2009. Global holdings for gold ETFs are down another 98,000 ounces to 61.9 million ounces. Interestingly, silver ETF holdings remain largely unchanged. That makes sense as the smart money is taking advantage of the 60:1 gold-to-silver ratio that makes silver extremely attractive. To learn more about the ratio call me.
All Things Considered – John’s Commentary
Investment Axiom: When the public bails en mass as they have with the gold ETF’s, it usually pays to do the exact opposite. When an investment “stinks”, that is the time to buy it. Ask Buffet.
Action to take: Metals are unbelievably cheap at these levels. Continue to add in increments. Don’t get greedy trying to grab the bottom dollar. If you have your fill just sit back, relax, and wait, knowing you are well positioned.
Quote of the day: “When people get scared, I get greedy. And, when people get greedy, I get scared.” – Warren Buffet
