In September 2014 the share market entered a sharp correction and I sold my stock holdings awaiting a more sensible time to invest. But while indexes were falling across the world I wondered what investment products I could buy that would go up as shares went down. One such possibility was gold bullion and I bought a kilo of the stuff via a physical gold fund.
I bought it close to the bottom of a long term trend and although it hasn't produced a great return as yet it hasn't lost money and although the correction appears to have bottomed it's nice to have the gold there as a hedge against a further drop.
The market was falling and all through the land
Investors were squeezed; how much could they stand?
I looked at a metal which seemed oversold
And that's when I bought it: my kilo of gold.
"The currency's bedrock" once was the phrase,
"A haven of safety in uncertain days".
They say it's no longer as used to be told
But nations still hoard it: my kilo of gold.
It sits in a vault in London they say,
Guarded and checked by night and by day.
Although it is something I never will hold,
I know that it's safe: my kilo of gold.
The spot price goes up and the spot price goes down,
With equities scattered all over the town,
Its loath to exhibit its virtue extolled
But still I won't sell it: my kilo of gold.
Worn by young couples their love to enshrine
And delved for by dreamers down deep in a mine.
Fought for and traded by kingdoms of old,
There's something about it: my kilo of gold.
Warren Mars - October 2014