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I may re-enter on dips myself (after closing PHYS earlier due to the Pro rec), but if I do get back in, I'd consider pairing it with a silver position. Silver is more volatile but may actually be the better bet over a period of several years.

Check out this interview with Eric Sprott on why he thinks silver will go higher:

If you don't have time to watch, the thesis is, #1, gold and silver are trading well outside their normal multiple (currently gold trades at 43x silver compared to historical 16x), and #2, there is enormous short interest in silver, with more "paper shorts" than physical silver, ie. if the shorts had to cover they would be unable to do so. Sprott suggests those two items together will likely "resolve in silver's favor" as he puts it.

In other words, if gold falls, silver may do fine anyway. If gold rises, silver may do even better. (I'm reminded of one of the gold bulls earlier this year who said "if the market does well, gold will be fine; if the market tanks, gold will take off").

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