2. Long of Two Units of Gold with one
priced in EUR and One in Yen terms:
Nearly nine weeks ago we bought three units of gold via the EUR, the
British Pound Sterling and the Swiss franc and one day later we
bought gold in Yen terms. We did so with gold trading £706; €812,
CHf 1190 and Yen 101,824.
As we write, gold is trading £835.53
compared to £821.85 yesterday; €981.70 compared to €970.55
yesterday; CHf1374.60 compared to CHf1368.05 yesterday, and
¥115,117
compared to ¥114,540 yesterday also.
Friday morning we wanted out of half of this trade, and so we
took the Sterling and Swiss franc portions off upon receipt of
this commentary. Now, we need to get back in and we shall do
so this morning, buying back that which we sold. We’d have
done better to have done nothing of course, but seeing the error
of our ways, ‘tis best to fix things early rather than later. Thus
we wish to buy gold while selling Sterling and the Swiss franc
once again, re-stablishing our psoiton as originally cast… and
we’d do so upon receipt of this commentary.
