Bought 1000 Shares of Barrick Gold Corp

Barrick Gold Corp is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development.

There are a number of ways to invest in gold. If you don’t want to buy physical gold you can invest in a gold EFT or stock. I’ve been thinking of getting into a gold position and today I decided on Barrick Gold Corp (GOLD). Today physical gold topped $2000 an ounce for the 1st time. Precious metals are always a good bet when the U.S. Government is printing money, non stop, for their stimulus packages.

Today I bought 1000 shares of GOLD at $29.55. I think this will be a good investment. I have to decide if I want to stick with what has been working for me, which is trading, or hold this position for a while and see what happens. If I stick with my trading I’ll be selling a Call against these shares soon. Or I could do both. I could sell a Call a little Out-of-the-Money to try to not get assigned. This way I’ll benefit from holding the stock for capital gains on the shares, and bring in a premium at the same time. I’ll let you know what I decide.

Buy 1000 Shares GOLD @ $29.55

Successful trading,

Steve

The Options Coach