TrueNorth

Should I swap some (GM) gold for silver?

Looks like CAD and AUD have nearly identical price for oz of gold

Australian Dollar +0.60% 10/14-04:40 1.0038 0.9963 1386.68 +1.27 +0.09%

Canadian Dollar +0.38% 10/14-04:44 1.0045 0.9955 1386.81 +3.46 +0.25%

Now sold out on Maples and the amurrican one ouncers.

I hope y'all are buyin'! I had a few quid laying around so I threw it at silver when today's sale was well underway.

Btw Pixel8r, you were right, I traded silver for gold too soon (last summer) because of my fears of a fall crash. Been buying only silver ever since.

I feel like gold and silver have uncoupled from everything. It's like they are going up unfettered these days. Which is not to say I don't think there will be corrections along the way. But -- I don't know how to say it exactly -- it's like it FEELS different now.

I suppose the US promise to print to infinity has ignited the gold (and silver) rocket boosters once and for all.

[Gold miner] Peter Hambro on BBC News channel (tv) -- "The Bottom Line", a radio 4 panel programme being broadcast on tv.

Just started. He said gold is the ultimate store of value. Will be interesting to see what the discussion tackles.

To the moon, Alice!

That autumn 08 dip (that I dived into) was a blessing, & so are you. Thxs

I dove into that same Autumn 08 dip (albeit in November) and agree: it was a blessing.

Marginalised again!

Hi,

 

I divested my remaining BV gold into Dollars last week and am now looking $1000 oz up on that. (I wanted more dollar exposure).

 

I've been trading GBS (Gold Bullion Securities) in my Selftrade account.

 

I've got SLW and RGLD (silver and gold mining company shares) in my Selftrade too - but I'm holding onto these as margins are greater and so more difficult to trade.

 

More details in my trading diary in the investment section.

 

Wanderer

Thank you for explaining.

The short of gold guys shouldn't risk a big mouth, otherwise they'll get some on their chins.

 

 

[bTW, these are the Bogdanoff/Bogdanov brothers who caused a scandal in theoretical physics (cosmology, to be precise) a few years ago.]

you sure that's cosmology and not cosmetology?

Thank you. I appreciate you setting out your position. When you refer to divesting "e-gold", are you talking about shares, or gold savings a la GoldMoney or Bullion Vault?

1197 down 30. Now that's a fairly good smackdown if ever I saw one. Smackdown or just general de-leveraging?

 

Fortunately sold nearly half my e-gold this a.m. before the smack. Did buy some more physical last night and it hurts to have to make good on my CiD order. Mustn't shirk it though.

So, are you swapping e-gold for physical? I haven't done this in a while, but I think it is prudent now.

Silver just got hit for 30 cents in a flash. what's up?

okay. been travelling for a few weeks and last time I checked GM, gold was around £750/oz.

Just got an awful shock -- £846 -- ?! wtf?

It's not like I have been living under a rock. I have noted the recent price rises in $$. Seeing this ££ just now though. . . whoa. It really does crystallise just how badly the pound is doing.

I bought some more this morning. I don't really care about a few pence in the price here or there. Bottom line is: the current price represents good value.

Also, I bought loads in the 08 crash, and did very well, so if I have to pay a bit more than that for it now, I don't begrudge it. If it goes lower, I will buy more. I have learned from Stewart Thompson, at least somewhat.

I just bought some more silver.

Even so, you'd have to agree that it is quite a limit to your options not to be able to [forget about want here] hold onto dollars for more than a few months. I have been pressured to buy bullion recently at GM... right when the price is declining.

 

I certainly will not be sending any more funds to GM.

Interesting. Maybe they just don't like US dollars. I have been holding CanuckBucks (aka CAD$) in GM -- with nary a breath of complaint -- for several months now. (Waiting to buy more in the crash!

I like GM. I also did a hassle-free transfer to an account I have in a foreign country. Piece of cake. It was the first time I tried this and I was very pleased. I'll stick with GM.

I traded some gold for silver the other day when I saw how low silver was. Damn thing's gone even lower!

Oh well.

I am waaay behind in my reading here, but man, silver's on FAHR!

76 cents today! holy schmoley Batman!

Am behind on my reading here so apologies if this has been posted already:

Armoured trucks. . .

So many investors have turned to gold during the recession that the HSBC bank on New York’s Fifth Avenue cannot cope with the amount of bullion being kept in its vaults, according to a report in the Wall Street Journal today. As a result, fleets of armoured security trucks have been leaving Manhattan, loaded with gold bars and coins for safe-keeping elsewhere.. . .

A quick word of recommendation for SarniaSilver. I placed an order for multiple different items on Thursday and my order arrived this morning. 100% present and correct. First impressions - very impressed.

Me too and thanks to whomever mentioned them here. I got some silver in in Sept and very pleased with their prices and service.

Yep, I'm expecting that pattern at least one day this week as well. A climb to $1300+ is looking "all systems go" at the moment.

 

Very frustratingly, I've just got major (well, major for me) new £ funds into GM today - wish they had been cleared a week or two ago.

 

Past experience tells me not to buy into strength, but I'm not sure of a pullback at the moment, and light volume at thanksgiving holiday may push things up rather than down.

 

I will be watching my Kitco KCast toolbar like a hawk!

The other thing is, since you are buying in ££ like me, is that a take-down in US$ price may not correlate precisely to a bargain price in ££.

wth? Both metals have just gone straight up at the open.

Hi Guys and Gals

At the risk of irritating some of you, I'd like to say that my take on all the recent action (global politics, economics, gold news, UK/sterling news, chart patterns...) leads me to a fairly strong suspicion that now would be a good time to lighten up on GBP gold holdings (not sell it all, just ease off a little) - IF you want to play that game at the edges whilst keeping a substantial core holding.

Replies with more that 5 swear words will be ignored :-)

Last time we reached what I felt was an interim top (February) I took profits by cashing out goldmoney holdings into gold bullion.

Wonder if that would be a good strategy again here? I dunno. I have a core holding.