Lucky I just switched my TD Precious Metal Fund over to TD Canadian Bond fund. I moved my TD Precious Metal Fund over when it closed at the NAV of $79.48 about a week or so ago and on the day gold drop $64.90 (Sept 22, 2011), the closing NAV on Sept 22nd of the TD Precious Metal Fund is $70.64. Wow, that is a drop of almost $9. One thing about precious metal mutual funds is that it moves in tandem with mainly the stock prices of gold mining companies, and it would seem that the gold mining companies also took a hit.
This is most likely just a small correction for gold, it may go down to slightly under $1700 or lower, who knows a this point, but it was due for a correction, however in the long run over the next 2 years I believe gold is still going higher above $2000. I will wait to try to pick near the bottom of this correction, around maybe $1600-1650…we will see and buy some physical gold.
by Das Brain
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