Jay Singh — Added 5 bps each AGI / GLD / GDX
"Added 5 bps AGI, 5 bps GLD, and 5 bps GDX" — three small top-ups to the existing gold book.
One-line take: A one-line VIP add note — Singh tops up the
gold book with
5 bps each to
Alamos Gold (AGI),
SPDR Gold Shares (GLD) and the
VanEck Gold Miners ETF (GDX). All three are existing positions: AGI is his
2026-JUN-21 gold special situation, and GLD (spot) + GDX (miners) are the ETF sleeves added the same day as the team turned constructive on gold post-FOMC. These are small, incremental position-sizing adds — not new theses.
1. Stocks & names mentioned
Single-line VIP position-add note (short written Discord/SSR post — no timestamps; the "At" cell links to the post). Stance reflects how each name was framed in this alert.
| Ticker | Name | Research | View | What Singh said | At |
|---|
| AGI | Alamos Gold | QT · SA · STK · FA | Positive | Added 5 bps to Alamos Gold — a small top-up to the JUN-21 gold special situation (cheap ~$15B mid-cap miner, ~65% upside to $50). | read ↗ |
| GLD | SPDR Gold Shares | QT · SA · STK | Positive | Added 5 bps to the SPDR Gold Shares spot-gold ETF — incrementally building the gold hedge (buy gold on dips thesis). | read ↗ |
| GDX | VanEck Gold Miners ETF | QT · SA · STK | Positive | Added 5 bps to the VanEck Gold Miners ETF — a small add to the gold-miner ETF sleeve alongside the spot-gold add. | read ↗ |
2. Talking points
Small adds across the gold book
- Three 5 bps position-sizing top-ups in one note — AGI (a single-name gold miner), GLD (spot-gold ETF) and GDX (gold-miner ETF) — all existing positions, not new ideas.
- AGI is the JUN-21 gold special situation (mid-cap miner overshooting on the Young-Davidson earthquake news, ~65% upside to $50); the 5 bps here nudges the position rather than starting one.
- GLD and GDX are the passive spot / miner sleeves added post-FOMC when the team turned constructive on gold; this add extends the "buy gold on dips" hedge as US debt climbs and central banks diversify from the dollar.
- Sizing discipline as usual: small, uniform 5 bps increments across the sleeve rather than a single concentrated add.
Summary derived from a short written VIP position-add alert (Discord / Special Situations Report), archived in transcript.txt, for personal study. Not investment advice.