New Gold Index Fund (GLD)

[ocelot]

With the collapsing dollar I have moved some assets into the new GLD ETF. Also picked up some of the commodities index IGE and some VGZ (a gold stock) which seems cheap.

Is anyone else worried about the US deficit and falling dollar? Seems a recipe for hard economic times ahead to me.

 

[Red & Black]

Did you move any of your assets into foreign curriencies or foreign stock as well?

Everytime I felt that the US dollar was headed for a fall I bought more foreign stocks. I'll look into this Gold ETF. Hadn't heard of it before.

 

[ocelot]

Sorry R&B I didn't check back on in on this forum until now. Yes, I have moved into international stock funds in my 401k about 20% but have the other 80% in bonds and cash.

Well the GLD has got thumped a little but I still believe it is good longterm defense though since I posted above I have detected that the old-time gold bugs do not like this ETF and believe it is a vehicle to be manipulated. I don't really fully understand the pros/cons there but on the surface it seems like a good way for people like me to get some yellow assets without a lot of hassle.

My own trading account (non-401k) is still mostly equities though I hold small positions in ige, glda and vgz as mentioned above.