andrew

GF great to see you posting !

Yes silver is looking good.

Best regards

AB

Thanks for that reply notanewmember

AB

Anyone in the UK might be interested in buying the new £20 half ounce coins.

 

http://www.royalmint.com/shop/UK_2013_20_pound_for_20_pound_Fine_Silver_Coin_George_and_the_Dragon

 

They are legal tender, contain fine silver.... they are VAT free.... and presumably like the Gold Sovereigns, are CGT free. Perhaps when Silver gets to £100 an ounce, these half ounce coins will be worth £50

If you buy over £50 worth, postage is free, so you exchange £20 for £20!

"They are legal tender, contain fine silver.... they are VAT free."

Do you have something to back up the VAT free statement as silver Britannia's have VAT charged on them by dealers and they also have a sterling face value.

Thanks

AB

The Cyprus bank account raid if it goes through would leave everyone with a deposit in a bank feeling very nervious.

If I had a deposit there, first thing Tuesday morning I'd be making arrangements to empty the account in case they try the same trick a second time.

But where to move your deposit to?

This is looking good for physical gold.

I'm also getting confused at the line between taxation and outright theft.

GOldfinger great to see you post again!

As always great charts.

Thank you.

 

 

All I'm saying is that when most people look at a house like this:

 

 

 

... it looks right.

 

That's because its window heights decrease as you go up the building according to golden mean proportions - the kind or ratios we are used to in nature.

 

Similary, we identify certain stock charts as looking right, because they have a natural cadence. Most people would probably be happier with a chart that has certain swings that fall outside linear trendlines; they will not associate such dips as negatives. Projecting a chart that behaves this way onto a log scale or a log-log scale might therefore produce a plot that falls bewteen linear trendlines but that will not necessarily make it look more positive to the average human, any more than making all the windows of the above building the same height would make it appear more appealing. Indeed to many, windows of the same height would look completely wrong, and it may well be the case that a chart that went up in a straight line for 5 years might ingender large amounts of nervouseness, simply because, as humans, we are not used to linear behaviour.

That picture has made me think!

In some ways the house looks good to my eyes, but in others not so........

Maybe because I was brought up in a area in London with that style of building it lacks ' depth ' to my eyes.

It just feels two dimensional, the building lacks something.....

The proportions of the windows are good like you say.

But to me it has the feel of a pastiche.

Getting to your point about charts, like the house picture, if they don't 'feel' natural on viewing I tend not to trust them whatever scale is used.

Not sure that this will make sence to you guys...... : (

Thanks Sledge your post has helped my thinking.

RH

I don't know how to post charts, but went to Yahoo Finance and got a two year chart comparing AGQ with SLV

The result was using AGQ had no advantage over SLV at all !!

You maybe increasing your risk over the two odd years time frame, without getting ANY benefit.

Hope this link works........

http://finance.yahoo...n&z=l&q=l&c=SLV

******Also posted in your trading volatility thread******

I suspect that this subject will already have been covered in the past, but does anyone know if 1oz silver Britannia's are CGT exempt like gold Britannia's and sovereigns as they are considered specie ?

My thesis is that as this bull market goes on, corrections become gradually smaller in percentage terms.

Does anyone remember the brutal correction from 720$ to 550$? Initially, corrections were deeper.

I expect a correction by 100-150$ any time, however, a correction to 1300$ is unthinkable, given the strong interest in gold and the number of people waiting in the sidelines. Besides demand by the jewelry industry will pick up shortly. The implication is that trading gold to buy back at lower price, will become increasingly more difficult.

YES..... Or just trying to find a good entry point to put new money into this bull market!

OK, I'll stop this now. Watch this -- it usually works:

 

See you up theheeeree!!

GF............... Why did you do that ?

You may have started another long consolidation.

Ho well, it'll give me a chance to buy some more............

Wise schaublin as usual 100% correct.Please remember i have got a considerable position in physical metal i have been buying for over 4 years and HAVE NEVER SOLD ANYTHING.New turdling needs alchemising ASAP i was looking for the summer sale. :lol:

I also am looking to dispense with new turdling and have not sold a single oz.

Alchemising paper into gold................. Good way of thinking of it fitkid

Waiting for corrections is a mugs' game. Go back and see people waiting for corrections in 2005 2006.... The desire to get more ounces tomorrow is actually a misplaced faith in fiat currencies. Of course there are corrections but looking at the accelerating trend lines it really is like trying to pick up pennies in front of a steamroller - not particularly greedy as only pennies are involved but is it really worth it?

Your point is well taken, I have been lucky in this approach a couple of times in the past, but looking back it was gut feelinh and luck.

As you say the accelerating trend lines make this an increasingly risky game to play.

Really? Despite the fact that the chart is complete hokum, if you were to draw a conclusion from it I think the best one would be that every time the debt limit has been raised in the last 5 years gold falls dramatically THEN rises to the new ceiling.

 

I'll make it simple, do you see where the little black line move upwards? That's the debt ceiling being raised.

 

Do you also see the little red line move down when the little black line moves up, that's gold falling.

 

QED.

 

Guess what gents, I'm pro gold. Although I guess I now fall into heretic category for making a simple observation on a chart. The level of defensiveness on here is hysterical sometimes.

At the moment I'm in the same frustrating position as fitkid, hoping for a correction to buy.

Please do not be rude.

That chart says there will be a monster correction first.

I don't see what your monster correction thought is based on from this chart, but also I'm no chartist !

 

I avoid discussion on gold or investing now, the reasons for holding gold now are too complex to get over easily to someone who is not interested in the first place.

So true.

You can lead a horse to water, but you can't make it drink.

Did you see Dom's latest on just this subject? http://www.moneyweek.com/investments/precious-metals-and-gems/gold/how-much-higher-could-gold-go-13001

Thank you Laura for the frizzers link.

As time goes by I'm finding myself thinking that as all the major currency's are debased more and more, a tipping point will be reached when the populations see their purchasing power dropping at an alarming rate. People will instinctively start spending savings and income as a matter of urgency, as not to do so is to accept less for it in the near future.

All real necessities will spiral in fiat cost, food and energy probably the fastest.

We I believe will face inflation that will be very difficult to deal with, even on a day to day basis.

Fiat money will be recognised for what it is and all faith in fiat will be lost.

Then we will face some panic induced 'new' monetary system....... This system, to be accepted would have to have a real tangible backing.

After decades of selling and leasing away their [barbarous] gold reserves, central banks now buying gold again.

I think most of us on this site guess why.

[We may face a little delay in the next QE to set the scene and excuse for the next flood of money creation.]

This is a question and answer from www.weberglobal.net 15‐July‐2011

Chris Weber has great insight and has been it gold and silver since the start of this bull market. Always worth paying close attention to what he says.

Q: Mr. Weber: This may never happen, but what if governments decided to back their

currencies with gold and established a fixed price for gold as it was before the US went off

the gold standard?

Would the price of gold crash to the new price? Would the price go substantially higher

because of the new demand caused by such actions?

A: I think there is a good chance of this indeed happening, since we have the makings of a global

hyperinflation which will end in a global currency collapse. People are slowly coming to own gold in

their personal portfolios, and central banks are once again accumulating it. If there is to be

restored convertibility, the price would have to be much higher than the current price. It is too soon

to tell now the price range, but I think that $5,000 per ounce would be a starting point, given how

things are today. But that could change.

If this happened, your gold would be worth much more in terms of national currencies than it is

now. The chances of gold crashing if governments restored convertibility are so small as to be

zero. They would only be restoring convertibility in the first place because people would be putting

much more value on gold then they do today. Therefore the market price would be much higher,

and the official price would have to be much higher still in order for a fixed price to work.

Au moves through $1600 an Oz.Another milestone taken out.

£994.50 on Kitco's 24 hour gold chart!

http://www.kitco.com/market/bp_charts.html

 

EDIT: BTW, as some people have possibly wondered, for various reasons, I will spend less time posting on GEI from now on.

OMG GOldfinger............

Your posts have been insightful and concise, an education to all who frequent this site.

I will, with many others here miss your most valuable contributions.

You have been of invaluable help to myself and family in navigating these increasingly troubled times.

I truly thank you for your great generosity of spirit.

You carry with you my sincere best wishes and gratitude.

Thank you.

AB

A Day's Wage for a Silver Dime:

Fact or Fiction?

David Zurbuchen

http://www.gold-eagle.com/editorials_05/zurbuchen120405.html

About £915 in December - why? You looking for a double top per chance?

Well........... As I'm going through a messy divorce and my investment assets will be valued and divided up in June a big drop would suit me well........

Then a massive rally would really make my year !

Mind you that would make Acton Girl even more grumpy....................

I'm not selling anything before I face the 'contempt of court' threat !

Does anyone know the last high in gold £909 sticks in my mind but I'm not sure.

Yes GF a brilliant call !

Like Jake I thought such a rapid drop was unlightly.

I take my hat off to you.

Thanks GF and Carlton for the thoughts on SLW.

I mostly like to buy physical and do very little share buying, and at the moment and for some time have my pension and ISA sitting in cash. I have to accept that my nature really is not that of a trader.

I have thought of buying SLW but hesitate because it feels uncomfortable to me that SLW and the general stock market has gone so far so fast.

We can look back at 2008 and see that a good panic pushes almost everything down hard.

So what to do?

I find myself waiting for a good correction, but that may never come.

Maybe a steady accumalation.

It feels like your damed if you do, and damed it you don't.

I know that what I've said is more about the psychology of investing, but that is the part I have the most trouble with.

Carlton what does P&P and M&I mean?

A new 30-year high in silver, I see.

I wonder if silver will go on to test the old $50 high next. If it goes through $50 easily that would be really bullish!