Wild, wild morning in the currency markets once again. The currency wars (make sure to check out our ever-improving and incredibly helpful currency wars page) Gold specifically is down nearly 10% on the day and down much more than that in the last week. That is the definition of a panic and/or a crash. You know that our strategy and the one that works for the long term is to buy crashes. I suggest buying gold coins, gold bullion or gold anything today. That includes the GLD or the other gold ETF’s and that is only because I think its a good buy for a short term trade now also.
In other words, buy physical Gold for the long term today or buy a gold ETF for a short term trade this morning. I am buying the GLD this morning and I will be visiting my local physical gold dealer this week. And finally, I’ve been speaking to the Trading With Cody guide Elad Ryba about this trade this morning and he was already thinking along the same lines and we’ll be sending out his article in a few minutes.