Update: iShares Gold Trust (IAU)   Leave a comment

I sold 20% of my iShares Gold Trust (IAU) position today. I still have a large (and oversized) position, but I wanted to lock in some profits. Here is the semi-final line on this sale:

IAU: +0.14 today, +0.67 overall to $13.76 (+1.03% today, +5.12% overall)–bought at $13.09

Ultimately, I expect gold to hit $1470 this Fall, and possibly as high as $1650 within the next year. However, I expect to see some resistance around $1430-1440 (I may sell some more in this area). If it breaks through there soon, $1650 becomes much more achievable much more quickly than I expect.

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Posted August 27, 2013 by edmcgon in Market Analysis, Portfolio Moves, Precious Metals

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