I-80 Gold Corp T.IAU

Even more FED boots stomping...

[metalhead666]

They will hike until something breaks....gold will go nowhere until then

BREAKING NY Fed’s Williams says fight against inflation has a ‘way to go’

[AlwaysLong683]

metal, are you totally out of all gold stocks, including IAU.....?

[metalhead666]

Yes...been out for a while now. Sold my I-80 between $2.90 and $3 US...sold Skeena when it touched $6  Sold Artemis as they still don't have the permits and it had a run higher.  So I'm all out.  I own no stocks long and have been day trading to the short side off and on. I'd like to own all 3 of these again but only when they are clearly cheap again and washed out. 

[AlwaysLong683]

I agree. They key for me is the USD. As long as the FED is raising interest rates to keep the USD strong, gold is not a good play in my opinion. Here in Canada, you can get a 1 Year GIC that yields over 5%. However, you can't trade GICs - your buy them from a bank or other financial instiitution and your money is locked in for the entire year, You get your principal plus interest all at once

[metalhead666]

Sounds good to me.  That's pretty much how I'm playing it.  Started a short on homebuilders today.  Do a fair amount of day trading for beer money but like you I'm mostly waiting for a real opportunity where the risk has been wrung out of it.  2nd half of the year seems about right.

[Angelique01]

Absolutely nothing wrong with investing in GIC's and High Interest Savings accounts in today's world.  In fact I recommend it.  I personally have a 5 year GIC ladder averaging over 5% each year as well as 2 high interest savings accounts offering 3.50% to 3.75%.  It is risk free but still less than the inflation rate. As a result I  take a hybrid approach and also