Stock price when the opinion was issued
He's not a gold bug, but there's a time and place to own different assets. Tremendous amount of government debt. Central banks around the world are buying gold right now at the greatest pace in a decade. Private investors are not engaged, because they had such a bad experience over time.
Part of a balanced portfolio. Own less fixed income, and more gold as an alternative safety hedge. For the first time in 45 years, less volatile than a treasury bond.
We reiterate PHYS as a TOP PICK. This trust holds physical gold bullion that is unencumbered, trades in Canadian dollars and avoids operational risk associated to owning a gold producer. Given uncertainty in world trade and geopolitics, it is a good holding at the moment. We recommend trailing the stop up (from $25) to $29, looking to achieve $38 -- upside of 18%. Yield 0%