Would you mind if we expanded it to other precious metals? I have been thinking about SLV myself (iShares silver trust).
Sure, just so we do not get too far off subject. But that does fall into my plea for help.
I just bought 20 0z of silver bullion actually. Gold went this high last year too and everyone was panic buying it and then it dropped a couple of hundred bucks/oz as the speculators moved to energy in the summer. I had invested in gold mines at that time instead of the metal and made about $600 which helped to offset the losses in everything else a little bit. I see the pattern repeating itself. I want to own gold but not at this price and not with signs of deflation all over the place and not after what I saw last year. I think I’d rather have cash for the time being. I’m not entirely worried about hyperinflation either in all honesty. I bought the silver just to have a little metal laying around...just in case. I can afford to play with silver but playing with gold can be very dangerous for middle class folks like me. Of course, with all the uncertainty going around these days, who knows. This is a question on a lot of minds these days.
My understanding (limited) is that shares in precious metals won’t cut it as an insurance policy against a dead dollar. You need metal in your hand. Gold, silver, or steel.