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Berkshire Hathaway cut banks position in Q4: Right again?
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doctorpot1 joined discussion · Mar 20, 2023 07:53

Lucky to have started adding Gold into my portfolio in February to hedge against USD

In February, I started adding Gold via $Gold Trust Ishares (IAU.US)$ ETF to my portfolio to diversify the portfolio as well as trying to use it as a hedge to USD ( $USD (USDindex.FX)$) fluctuations and the unlikely event of US defaulting. This idea came about when I realised that recently, Gold price and USD price seems to have an inverse correlation, so it might be able to be used to hedge the crazy swings in USD.
Lucky to have started adding Gold into my portfolio in February to hedge against USD
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This purchase is a very lucky move as it was just before the collapse of $SVB Financial (SIVB.US)$ and $Signature Bank (SBNY.US)$. When there are fear of financial collapse, quite a number of people will run towards gold as an asset to preserve the wealth, which makes their price rise. Thus, manage to make some money on Gold to help cover the losses on other stock price due to the financial issues
Lucky to have started adding Gold into my portfolio in February to hedge against USD
In Febuary, I also found that if we have free platform and commission fee, buying shares in small quantity can save us some fees too. When I purchased 1 share, the fee is $0, but when I purchased 2 shares, the fee is $0.01 (as seen below). Thus, I started purchasing the shares 1 by 1
Lucky to have started adding Gold into my portfolio in February to hedge against USD
Lucky to have started adding Gold into my portfolio in February to hedge against USD
Lucky to have started adding Gold into my portfolio in February to hedge against USD
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doctorpot1
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crawled out of poverty, working towards FIRE!! (financial independence, retired early)
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