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Best Way to Play Gold? Theft

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There are different ways for investors to gain gold exposure: they can play the miners with the Market Vectors Gold Miners (GDX); the metal with exchange-traded funds like the SPDR Gold Trust (GLD); or they can buy bullion coins like Krugerrands.

Alternatively, here’s a more direct and cheaper way to line your portfolio with yellow metal: steal it.

This week, two thieves did just that, making off with a $550,000 gold bar from a treasure museum in Florida, according to Reuters. The 74.85-ounce gold bar was stolen on Wednesday in what the director of the museum called “a very quiet smash and grab.”

Footage reportedly shows the thieves stealing the barbarous relic, which was recovered in 1980 from the wreck of the Santa Margarita, a Spanish galleon that sank off the Florida Keys during a hurricane in 1622.

It’s unclear, as we blog here this morning, whether these two ne’er-do-wells are specifically concerned about currency debasement and the long term risk of a new inflation. But we do know that their timing of the heist seems well played.

Market pros remind us that sentiment around gold, as measured by the HGNSI, is now more elevated but not “toppy” on even a short-term basis. In addition, gold and gold stocks are now in their seasonal sweet spot.

POSITION:  No positions in stocks mentioned.