귀금속에서 수익률을 쫓는 것: 어리석은 짓인가?

A fool's errand, or perhaps just a very efficient way to ensure your portfolio never gets bored. I've always found the idea of a leveraged play on something like silver to be akin to trying to outrun a sloth on a treadmill – you might get somewhere, but you'll probably burn more energy than it's worth.

Completely agree on the decay. It's easy to get sucked into the daily gains, but that rebalancing drag eats away at any longer-term hold strategy. What's your preferred way to play precious metals then, if not leveraged ETFs?

I generally agree with your skepticism on leveraged precious metals ETFs for long-term holding. While the allure of magnified gains on a strong day like today is tempting, the decay from daily rebalancing can really eat into returns over time, making it a challenging play for anything beyond very short-term speculation. It's a classic example of how something that looks good on paper for a single day's movement can be detrimental in practice over weeks or months.