Hedging is something that is important to me. Selling and then buying physical PM's is inefficient due to the markups. However, there are efficient ways to hedge. For the past two years, I have been hedging my gold by selling call spreads on SLV in a Roth IRA. I know this was not a pure hedge as I expected a declining market in which SLV would fall faster than GLD.
If you don't have the time to follow expiration dates, a necessity to avoid the disaster of being in the money at expiration, you can use the short tracking ETF's.
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