All precious metals related assets are doing very well today, as gold has closed strongly above $1800, currently at $1814. There was a chance that $1800 would have turned out to be a formidable resistance. But it looks like gold might close convincingly above $1800 today. For that reason, I would like to make the following two changes.
Firstly, change the stop-losses in my personal portfolio. Some of the stop-losses are as follows (Some selected miners are not mentioned here): GDX stop = $36.7; GDXJ stop = $50; SLV = $16.9; SILJ = $11.8. All of these stop-losses are close to the lows on Tuesday (7 July 2020).
Secondly, take a position in precious metals in the fictitious portfolio 1. This convincing break above $1800 in gold might attract more speculators into precious metals, temporarily driving the optimism and the price even higher. Fictitious portfolio 1 trade: buying 50 GDX at $39; 40 GDXJ at $53.65; 100 SLV at $17.44; 50 SIL at $39.24; 100 SILJ at 12.87. The stop-losses in the fictitious portfolio 1 are same as above, the stop-loss for SIL = $36.8. I will update the fictitious portfolio 1 page immediately.