PHYS – note to subscribers

PHYS was added last week as a way to tag the NFTRH speculative account to actual gold as opposed to what may be going on over at GLD. If it worked out as a trade, hey great. Or it could be held longer term. The point was that I felt its management (Sprott) was of higher integrity than that of GLD.

PHYS, unlike GLD however, is subject to premium/discount swings and it appears we are getting a bit euphoric here. Thus, I sell and take a 3.5% gain as the PHYS-GLD ratio chart shows a bump up in premium from what had been 8% last time I checked.

As you know, the spec account is not for long term philosophical holding, even of things I believe in strongly, like the value of gold. That type of investment is done elsewhere and through different means. So the spec account takes the froth off of PHYS and perhaps awaits future opportunities.

Originally Posted here

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