Hep a better choice in Gold sector Only if you are interested in Gold stocks then HEP is one of the best options to play the sector. The price of Gold is relatively higher as compared to the prices of Gold stock. Either the gold prices will come down further or the prices of gold stocks will bounce. We might have to wait till summer for that. In any case it I think it is better to take a position in gold stocks than gold.
To further reduce the exposure the better option is to buy an ETF. HEP which is dividend paying income gold etf one gets paid for waiting out the reversal in the sector. Dividend of 15 % plus is not bad. This ETF is very illiquid but does move with the change in prices of underlying stocks.
One should try to trade this as a declining ETF till summer or till it can start trading above 20 ma & the reversal takes place.