Low socioeconomic Aussie tryer here. (I hold physical at home, 5oz… not even a same worth as a hot motorcycle).
But on the ETF I hold 20oz, and not JPMs in NYC – the ASX Sydney still has PMGOLD (perth mint gold ETF, same as it ever was, exchange for physical and the silver version as well). Daily volume is good. I traded 1000 yesterday inside 5 mins. The Sydney ETF is 1/100th of an Oz and seems to me to be based on the London PM fix but in $AUD.
Our AUD has climbed from .57 to the USD after easter 2020 to .76 to the USD mostly because Fe exports ($50 per ton rise). I expect the USD to be jumping when there occurs a 'risk off flight to the greenback', as per routine, when corrupt political SHTF [soon].
Therefore the AUD will fall, not only because the USD getting powered up, but, also because of the CCP dramas (and therefore the Fe ore price fall, because Fe exports underpins AUD anyway). So I am better off in physical AU because it is priced in USD which will steady it up and recover quick in comparison to Aussie shares. Never the less, when gold drops I'll be in for another 20 oz. Then it will rise, and faster than the share market.
Too many shares are leverage on leverage as they say, and too many tightly connected to CCP markets.
Given that blue chip (plenty examples) are paying 3c annual dividend and having a SP over $2.40 I tend to think shares are way over sold and there is too much lazy retirement money camped out there supporting a stupid high PE ratio. I got out of shares, even gold miner shares.
When the CCP shutdown arrives before Christmas, SPs will crater 30pc at least, and gold ETFs will as well. Thats when I plan to buy more PMGold. I have no stops on the 20oz holding because the record shows that when the S&P crashes, and everyone sells to cover margins, even ETF gold, the gold price recovers quickly.
On the other hand, POTUS may shut the market same as the Twitter/Signal/Telegram/Fbk web to kill the street rioter comms. In which case… thats why I hold the 20oz physical, because when it all re-opens, maybe before New Year, after the domestic dramas, the market could be dizzy to say the least…