Sold gold - W.C. Varones

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12.04.2009

Sold gold

As a long-time gold cheerleader, I'd be remiss not to tell you that I sold a good chunk (~30%) of my GLD position today. I do believe that's my first sale ever (other than day-trades).

I'm still a big believer in gold for the long run, but it's had a huge run and today's pullback could certainly go a lot further. And I'm increasingly favoring physical gold over GLD, for a lot of reasons including transparency, expenses, and taxation. If we get a further pullback, I'll reload on the physical.

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