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Guest Gel

Iwant to buy into Gold and Silver

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Guest Gel

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!

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re silver and VAT see the silver thread.

 

re gold or shares general opinion says a bit of both

 

consider some energy plays

 

don't know what ICIC banks is nor Icesave

 

premium bonds are worth considering

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don't know what ICIC banks is nor Icesave

 

A couple of foreign banks currently offering about 5.5% on their internet based instant access accounts.

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Guest Guest
A couple of foreign banks currently offering about 5.5% on their internet based instant access accounts.

 

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

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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?

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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:

 

http://www.landsbanki.is/index.aspx?GroupId=1264

 

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

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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.

 

Cheers,

Pete

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