I’ve made a $1K bet in SPDR Gold Trust (GLD), which I’m planning to hold for at least 10 years. SPDR Gold Trust tracks the price of gold, and is backed by physical gold reserves. With the United States experiencing turmoil in its monetary system, I trust gold more than dollars these days. Hopefully everything will sort out over the next few years, and I can have more confidence in storing my cash in dollars again. The market just feels too uncertain right now. Yes, the market has been going up, but it doesn’t make sense to me. We’re due for a correction, and I don’t see inflation going away anytime soon. Gold should do well from here, especially with so many countries now looking for ways to wean themselves off of reliance on the US dollar.
I made a $1K bet on SPDR Gold Trust on June 20, 2023 at $179.92 per share.