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Inverse gold tracker?
Comments
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He must have put in a hell of a lot of money to begin with then.Someone I know got into a taxi a few weeks ago and the driver said he didn't know what the problem was with people moaning about money. He said it's easy to make money - he bought gold a month ago, sold it a couple of weeks later and made £6K.
Looking at the 60 day gold chart:
If he bought at the lowest, that was about 1365 at the end of Nov. The highest after that was 1426 - a gain of around 4.5%, meaning he would have had to buy around £135,000 worth of gold.0 -
Don't forget that you're still exposed to currency risk whilst shorting. SBUL is priced in USD even though it's listed in London.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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Gold is just a hedge against currency devaluation.
As soon as your sovereign state starts running a trade surplus, and your local central bank is actively pursuing deflationary monetary policy - is when you sell/short gold.0
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