Wanderer

Waiting at airport for flight to Madagascar - $1000. Happy days. False breakout and soon to pop back down? Or is this the 'real deal' with a short-squeeze on up into $1200s?

Well, I'm happy to say I took possession of my first Oz of physical silver today when I was given a commemorative coin. Nice. Shiny. I'll still keep the vast bulk of what I own in Bullionvault though.

I must say, everyone on here is getting remarkably relaxed about smack-downs these days. Time was when a good $25 smack-down of an afternoon would bring out several posters in a panic. Or have such folk simply given up out of nervous tension?

I'm watching dollar price with interest but pound price with some disdain. I got richer in pounds last Summer/Autumn as the price of gold drifted sideways and fell gently whilst the pound collapsed. I hope that I'm not going to get pound poorer as the reverse now happens! I see on the silver thread many are hoping for a short-term fall in the pound. I hope so!

No - but been looking. People are still asking for prices they would ahve got 1-2 years ago. Reality will have to dawn on them in time, so I think we've got another years of price falls (at least) ...so not rushing into buying.

Where you looking Bit bit T?

I would mostly buy Sovereigns if I was buying gold ATM.

Hi, why is that? Because they are cheaper per unit gold (are they)? Because they are more divisible i.e. smaller units? Or for other reasons - fewer forgeries etc?

Evening all,

I've come into a little ££ and want to put it into coinage for certain specific reasons (including that I don't have any, but for other reasons too).

As far as I can tell, Britannias will cost me about £6-8 more per Oz coin. I deem this worth paying for various reasons. Do others agree? (if you are UK-based and one day might have to pay CGT).

As far as I can tell, the 'guide to buying coins' threads and others suggest there are four decent dealers: ATS, Bairds, CID and Chards (Tax-Free Gold)

CID don't stock Britannias. ATS don't quote prices on the internet. Anyone got preferences between Bairds and Chards? Chards seem a lot more expensive (£700+ for Britannias) than Bairds. Any ideas how ATS compare price-wise? Anyone had bad experiences with either/any?

I would put this on the buying coins thread but I suspect it won't get many views.

Thanks

Wanderer

Yes, I hold SLW. I rode them up, rode them down and (in the best trade I ever made, trebled my holding at the bottom) rode them up again.

I lightened up 30% a while ago and am contemplating doing the same again now. Any reason for today's silver action? Short squeeze? But why does that immeidately affect SLW? Wouldn't SLW react less strongly if it was considered to be just a temporary short squeeze?

Hi,

I live overseas but will be back in the UK soon. Could I buy silver coins at a dealer, keep the receipt and then claim the VAT back at the airport? I only want to do it if it is legitimate.

I know that I don't have to pay VAT when I import them to where I live.

Hi,

What did Dr Bubb say about Gold this morning?

Wanderer

Re the 'Trade' or 'Buy and Hold' debate, I have a great desire to see a plurality of views on here.

I think one thing that affects 'where you stand' is 'where you sit'.

If you have PMs that represent say, 10% of your annual income or less, then perhaps 'buy and hold' is the best strategy since dealing costs are likely to wipe any gains. The risk that you miss out on a ride up is significant (especially if you aren't fortunate enough to be well placed financially to begin with - and that, largely, is due to luck).

On the other hand, if you are a STR and have PMs that represent perhaps even multiple times your annual income (from your day job) then you are lucky enough to be well place financially and can afford the risk of trading: since a 20% move in the cost of gold might be your annual salary.

I'm not knocking anyone here, I'm simply trying to understand people's propensity to trade and thus to better weigh their advice.

Wanderer

Hmm, I'm not happy about this one... now down 26 and no sign of slowing. I hate volatility!

Dumb question, but if your source is good and there is about to be intervention, why not sell, wait, and buy back for less?

I noted with interest that the 'Most sold stocks' on Selftrade today contained GBS and Physical Silver. I'm not sure if that is a bearish indicator (smart money getting out?) or a bullish one (the prices seemed to hold more-or-less despite heavy selling).

My trigger finger is getting itchier. I've made really good money the last 8 months but it isn't usable till I convert it into 'fiat' money.

i know what you mean

 

but

 

http://www.safehaven.com/article-12604.htm

 

 

 

 

and another politician talking sense (and its not Ron Paul for a change)

 

Ex PM of Australia taking sense - risk of US default

Wow, that was a good interview when you think it was somebody who was a PM!! Paul, are you are member of GEI? If so, who? Stand up and be counted! If not, then we should make him an Honorary Member. I don't think I've ever seen a mainstream politician give such a well argued (and calm!) account of the economic situation. Hard to believe he has been out of a job for what, 12 years?

Diet Cola Addict,

I suspect your credit rating is poor for the same reason mine is: you don't have enough debt. As I understand it, these numpties work out your credit rating by reference to how much debt you've taken on and successfully repaid [note: in this case I don't think repaying a loan early counts as 'successful' as you've 'diddled' the lender out of anticipated profits]. What they want to see if people with lots of debt paying it off according to, but not ahead of or behind schedule.

I'd never had a credit card, paid off a mortgage after four years (STR'd) and had an abominable credit rating a while ago despite having a very healthy savings stash and no debt. I've never taken a loan other than my one mortage. In pre-crunch terms this meant I was unknown ergo a credit risk.

I'm hoping that, in the near future, people might see this differently!

You might find that putting your daily spending on a credit card and paying it off monthly helps your credit rating. [Although you may find being forced to do this, like me, objectionable].

Wanderer

Not too shabby at all. With apologies to the buy and hold team, I wish I had the courage of my convictions on trading the medium swings. Greatly enjoying this ride though!

Hi all,

So, not much concern then! Don't bite my head off when I raise a question though - I'm still massively long in Gold, but can't help feeling how much I could have added to my 'collection' if I'd traded better.

Still, I'm currrently happy to have cashed in my ETF (1/3 of my stash) at 610, although frustrated I didn't wait longer on that one as I now could have bought back in handsomely.

No-one on here tonight worried about today's plunge? What are views? Just a timely correction or the start of a tradeable move down? [P.S. I know some of you on here don't think there is any sense in trading PMs so you needn't tell me again]

True enough. I sold my flat (STR) back in 2004 when I thought they'd ramped property so far it couldn't go any further.

(Still, it wasn't as bad a move as that, I put quite a bit in gold....)

This is of serious concern to the future of the gold price. I'm going to sell all I own today just as soon as I can.

http://www.theglobeandmail.com/servlet/sto...ry/Science/home

Bother, nearly sold a lot of gold/PM stocks yesterday into sterling. Didn't. Is this the start of a considerable correction in sterling and POG? Or just a brief blip?

Up up and up. I'm obviously still gently kicking myself that I offloaded a my ETF gold at 610 £ or thereabouts. However, I'm enjoying the ride on up with my remaining stash in BV and have made good money out of the OIH and other oil stocks I bought when we sold the Gold ETF.

I'm not doubting the longer term trajectory of gold is upwards, but when do people think this immediate market will pause for breath?

I've some more powder arrived and am looking keenly at the oil and mining stocks as well as gold. We've seen a nice little run recently on oil and gold mining stocks, but experience has told me not to pile in when things are going up fast and one is panicking one will miss the boat.... witness my classy timing on silver ETFs last year (only now returned to the black) and Silver Wheaton (only back in the black thanks to some aggressive buying when they had dropped by 70%.... However, if we've still got a few more weeks to go.

Hmm, silver trending down in the midst of a great day for Gold. Mysterious. Not yet a 'safe haven' in the same way it would seem.

Is silver getting left behind Gold in this rally?