Wednesday 10 February 2016

There be gold in them thar hills

It's been a generally miserable week, with socking great losses across the portfolio, but things could have been oh so much horribly worse if it wasn't for my lovely gold mines

I thought gold was due for an upturn, but I wasn't quite expecting the scale and speed of it. HGM:Highland Gold is up 16% making £124 profit, CMCL:Caledonia Mining is up 17% making £96 profit, SHG:Shanta Gold is up 36% making £149 profit, and TSG:Trans Siberian Gold is up an amazing 81% and making an astonishing £422 profit on an outlay of £600. That's a total of £791 which has offset a big chunk of the losses as the FTSE stocks have crashed.

Slightly frustrating that if I hadn't sold PAF:Pan African Resources for a 29% profit of £360, that would now be showing a £1,086 profit. However, I wouldn't have been able to buy into GVC:GVC Holdings at such a cheap price, and I think they have greater potential for growth, given they are still in profit by £274 despite the crash this week having been up at £682 profit a few days ago and destined to get back to that quite quickly.

I won't even look at the rest of the portfolio. Despite a small recovery today, the losses were so gigantic on Monday and Tuesday it's going to take a while for them to recover. Best to just wait it out and hope it doesn't get any worse.

Meanwhile - huzzah for gold!

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