Position Adjustment

Take the profit of Gold for the short term (+15%). And wait for the draw down again. Still OW Gold in the long term.

Take the profit of utility ETF (+15%) as the utility P/E at the peak and all time high already. Clear the holding and UW utility in the long run.

Check gold and silver position next week.

Next step

Look into Brazil Equity, due to growth story, rate cut and domestic policy.

Look into discretionary sector.

Long term view

Comm: OW Gold, Silver

Equity: US, China, Brazil?, discretionary

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