RG's growth portfolio <Port-faux-lio> lost 5.1% in April and the S&P500 gained 1.8%. CVX was up 2.6% while GG, PSLV, PHYS, and CEF suffered from the precious metals smack-down in mid-April. Gold and Silver finished April down 7.5% at $1,477 and at $24.33 down 14.1% respectively. The low for gold of $1,348 and silver of $22.77 was on April 15th.
Year to date the port-faux-lio is down 5.2% and the S&P 500 is up 12.0%. CVX hit an all time high of $122.01 at the end of April. You may remember that I was consider shifting from oil to precious metals last month partly because oil hit a high of $121 on March 22nd. Fortunately, I did not pull the trigger. The smack-down of precious metal prices in mid-April has created a better entry point.
I remain confident that precious metals are the best place to protect wealth. Gold and silver prices will go up just as fast as they went down in mid-April. The question is when. While I wait for a clear sign, CVX and oil are a good place to park my money. It pays a nice dividend and should continue to appreciate as central banks continue purchasing equities.