I look at it a little differently. Gold is presently a great hedge against the declining USD, as well as the decline in many other currencies. Until I see better fiscal policy, I prefer to keep one foot in gold. That doesn't mean I won't take some money off the gold train, though. I plan to sell similar to how I bought . . . cash went into it as cash became available. Unless I see a radical reversal in fiscal behavior, I think I'll take the cash out of the gold as the cash is needed, rather than selling at a specific price point.
If the pm’s keep going up, why set a limit on it? When it drops back down how low do you think it will go? How long will it be low? There are many important questions and factors to consider.
If one doesn’t have an immediate need for ‘cash’ then there is no reason to sell any hard asset, including AU and AG.
I resisted not that I didn't seriously think about posting the same thing great minds think alike. To think at one point early on, I had quit buying silver at $4.40 Toz and gold at $440 Toz.
One might not need cash but if one can put that cash to better use (different investment for example) it would make sense to sell.
Google News fed me a story today that Citi has called a top for gold, and predicts falls of up to 25% next year. I won't be surprised to see them proven right or wrong.
Sure there is -- a conviction that you'll be able to replace it at a lower price in the near future. (See post above.)
