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<p>[QUOTE=&quot;Morgan1878, post: 1174059, member: 17869&quot;]I was about 50% silver (physical) &amp; 50% gold (98% mutual fund,2% physical) before the end of last week.</p><p>If I had sold silver, it would be taxed at 28%. The gold based mutual fund was in my IRA, so no tax consequences on capital gains. </p><p><br /></p><p>I sold 72% of the mutual fund last Friday when gold peaked. I decided to take profits. At this point, the trade looks good, because the price was a 5 year high in the fund (I started accumulating the position in late 2004). I wish to emphasize that the happy outcome of selling last Friday at a high point is <i>not</i></p><p>due to any particular foresight of my own. I was just taking profits.</p><p><br /></p><p>My discipline on investments for a long time insofar as taking profits is to look very critically at a position once I have a 50% gain. I let the gold run until I had a 72% gain. At that point, I didn&#039;t think I was thinking clearly enough to make a rational decision as to further gains, so I took profits to silence the noise in my mind.</p><p><br /></p><p>I reinvested the proceeds of the gold fund sale in my largest IRA position, a multi-asset tactical allocation fund. It&#039;s less volatile and at this point in my life, I don&#039;t need big gains, just steady gains.</p><p>&nbsp;</p><p>Due to tax consequences and personal interest in coins, I expect to hold the silver for many years since it is a melange of bullion and collectibles. </p><p><br /></p><p>Unless the survivalists prevail, any additions to PM positions will likely be on paper since I believe the global financial system has the wherewithal to survive future setbacks.[/QUOTE]</p><p><br /></p>

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