Posted by DigiNomad on 4th of Feb 2024 at 11:20 pm
GLD, GDX and DXY - If you actually believe in the intrinsic
value of gold, I'm not sure why you would buy it in dollar terms if
you think the medium term trend for the dollar is likely down. Why
put on a trade when you believe it's half bad? Every trade
has two parts - the currency trade and the asset itself. If a
client asks an FA to buy a stock on the French exchange, it's not
problem - easy day on IBKR. You can trade on almost any exchange,
but the process is to first do a FX trade (dollars into euros in
the case of the French exchange) then purchase the desired equity
with the euros. When you track it in your portfolio after purchase,
you will always see the p&l of both the equity and currency
trades. When it's your home currency you only see 1 p&l for the
equity trade but there are still both trades at play. If you have
USD savings and a USD brokerage account, you are long USD.
There are vehicles for buying gold in euro, yen and other
currency terms.
Posted by skwan1940 on 5th of Feb 2024 at 10:23 am
the Gartman Gold EUR ETF was delisted a few years ago, too bad
it doesn't exist anymore; I subscribed to Gartman's letter at one
point. https://seekingalpha.com/symbol/GEUR
GLD, GDX and DXY -
Posted by DigiNomad on 4th of Feb 2024 at 11:20 pm
GLD, GDX and DXY - If you actually believe in the intrinsic value of gold, I'm not sure why you would buy it in dollar terms if you think the medium term trend for the dollar is likely down. Why put on a trade when you believe it's half bad? Every trade has two parts - the currency trade and the asset itself. If a client asks an FA to buy a stock on the French exchange, it's not problem - easy day on IBKR. You can trade on almost any exchange, but the process is to first do a FX trade (dollars into euros in the case of the French exchange) then purchase the desired equity with the euros. When you track it in your portfolio after purchase, you will always see the p&l of both the equity and currency trades. When it's your home currency you only see 1 p&l for the equity trade but there are still both trades at play. If you have USD savings and a USD brokerage account, you are long USD.
There are vehicles for buying gold in euro, yen and other currency terms.
https://www.etftrends.com/2015/03/euro-denominated-gold-etf-shines-in-commodity-space/
etftrends.com
Just a moment...
the Gartman Gold EUR ETF
Posted by skwan1940 on 5th of Feb 2024 at 10:23 am
the Gartman Gold EUR ETF was delisted a few years ago, too bad it doesn't exist anymore; I subscribed to Gartman's letter at one point. https://seekingalpha.com/symbol/GEUR
seekingalpha.com
Access to this page has been denied
px-captcha