 Good day, fellow investors. I recently made a video about gold, the risk reward of investing in gold. There is a lot of interest in gold here on YouTube. And then there was a great comment by Richard B, Hi Richard, that really put all the perspective into a few words. So I want to read that comment to you and then I want to discuss how to trade gold and especially how to put it in a portfolio perspective, in an old weather portfolio, what is also daily recommending. And that would let's say summarize my views and let's say the fundamental common sense views, view on gold. Let's start. So Richard B said, not all YouTube channels on gold and silver are bad. Kitco for instance is to be recommended. But I agree with Sven, many of them playing on fear and promises. So here's my guide to how to trade gold and silver using YouTube channels. 1. Listen to interviews with Pete Peter Hug on Kitco. A long-term industry trader knows his stuff. Good advice on portfolio hedging. Whenever a CEO of a company is interviewed at a trade show and they are saying things are terrible, as they were two, three years ago, bye. Whenever a CEO of a company is interviewed at a trade show and they are saying things are great, as they are now, sell. Think about being contrarian also in the gold environment. Finally, as soon as you start listening to Robert Kiyosaki telling you to buy gold and you believe him or you find yourself at 2 AM watching some guy explaining how to use acid to get gold from old printer cartridges, stop, sell everything, leave your clothes on a local beach, fake your own debt, it's time to get a life. Great comment from Richard. And there is something else I want to discuss. Citigroup just said on Bloomberg that gold may top record, that it was what, 7-8 years ago, of 1800 it might reach and go above 2000. So that's Citigroup pumping the price up now and that's what they do. In 2016 Citigroup, Citis says this could send gold tumbling below 1000 again. So be very, very careful with these predictions. And then, just to conclude everything, buy gold when others are selling again, same story all over as the same message on this channel. Be greedy when others are fearful, be fearful when others are greedy, common sense investing over the long term makes you a winner. Everything else is betting, speculating and 99% of people unfortunately end up as losers. Those that bought gold, gold miners in 2012 in exuberance are the big losers, have been the big losers over the last 7 years. Those that buy now, the risk is higher than it was a year, 2 years ago when gold was closer to 1000. So that's the message here. On an old weather portfolio how to balance that? What Ray Dalio says? Well, you can say, okay, I'll have 10% of exposure to gold. I prefer gold miners because there is much more volatility and if you buy those big ones, it's unlikely that they will go bust. But you can trade. So you say, 10% to gold miners, when it becomes 12%, you bring it back to 10%. When it becomes 8%, you bring it up to 10%. So you probably make 5 trades, 4 or 5 trades in the year. You get the 2%, 1% dividend yield that they get and you have a return on that 10% asset class that you are exposed to gold, gold miners in this case. You get a nice 5, 10, 20% yield and your portfolio is hedged. That would be the most common sense exposure to gold that I can give you. Everything else will go to 5,000, 20,000, a million. Everything else is speculation and if gold goes to 20,000, also other real assets, real estate and things like that in your portfolio will also do well if you have good things. Perhaps gold can go down again depending on what's going on, depending on the restrictions on a lot of things that are things that we cannot know beforehand. We can focus on our portfolio how to balance the risk and reward in it and if you fancy gold, Ray Dalio's message from an old weather portfolio strategy, I would just go with good miners. I analyze them all and there are good miners like Polyus Gold, which is a stable miner, very low cost producer and you can play on the volatility there without a problem. You add a few more and then Newcrest is also a good miner and then you have that exposure in your portfolio. You lay back, sit down, don't get disturbed by the exuberance and panic in the market and simply rebalance the portfolio, make money in a boring, long-term way. If you fancy a boring, long-term way of making money, please subscribe to this channel. If you want to read all my analysis to find what's best for your portfolio, be it a gold miner, be it other miners, be it other commodity stocks or emerging market stocks, please check my stock market research platform. Thank you for watching, looking forward to your comments, always send me a message on Facebook or an email, always like to hear what my public has to say. Thank you, looking forward and I'll see you in the next video.