Jump to content

Iwant to buy into Gold and Silver

Guest Gel

Recommended Posts

Assuming all goes well over the next week or so I should have abut 100k to invest.


So far the plan is:


32k in ICICIbank

32k in Icesave


3k in a Tracker ISA (Wondering if this is really a good idea considering how high the FTSE is)


10k in Gold

20k in Silver


My concern is that silver attracts 17.5% Vat doesn't it?


Should I buy mining shares or actual physical product, and where should I go?


Thanks, I was going to post this on HPC but I reckon there are a lot of unstable opinions on there!

Link to comment
Share on other sites

I am about 80-90% invested in mining & resource shares


That would be "shear madness" for most everyone. But it has worked well for me.


My advice: Study, learn, and make your own decisions, and take responsibility for them.




Maybe you should consider attending a Minesite Forum or even...


Mines & Money next week: http://www.greenenergyinvestors.com/index.php?showtopic=1168


= =


"They currently offer .25% above the BOE base rate."

they must be losing money- what is the credit risk?

Link to comment
Share on other sites

They currently offer .25% above the BOE base rate.


"Icesave" is offering 5.4% in its internet savings account - plus some good looking guarantees about keeping 0.25% above BoE base rate.


Problem is that Icesave is run by the Iceland-based Landsbanki that was recently downgraded by Moody's:




Remembering how the Icelandic krona was hit by the May stock tumble. Does this make it look too vulnerable to financial shocks?

Link to comment
Share on other sites

The Krone's downfall happened in February and was caused by :


first : an increase in interest rates to a high level which

second : sucked the carry trade in and

finally : when the icelandic economy was downgraded they all tried to rush for the exit


I don't think it had much connection with the stock tumble in May, though it was all getting a bit hairy by then.


I do agree about the risk of countries which have a high interest rate, in an inflationary world.




Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Create New...