No, these are NOT gold. They are paper. For the spec accounts I manage UGL has been added for a gap fill on a fun filled Op/Ex day. For accounts I manage for a few others, GLD is added. No recommendation here, because I buy pain in the PM sector and sell euphoria generally. I am simply doing what I usually do based on having sold some gold stocks this week and replacing them with gold proxies, which look like a buy in ratio to GDX, HUI, XAU, etc.Edit (2:14) Neglected to note that UGL long is against ZSL silver short initiated yesterday.
Edit (3:39) And for the CoT enthusiast, here's the report courtesy of GoldSeek: CoT Gold, Silver & USD report, along with the updated graph that you can find on the right in the links section of the blog any time. Not too bad, speculators shorting a bit and commercials covering - a bit.
