dietcolaaddict Posted August 18, 2009 Report Share Posted August 18, 2009 Yes, you will see your total in Euro You can change your home currency at any time. Click ‘profile & settings’ then ‘preferences’ Very useful, thanks Zik! Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 Is anyone thinking of trading silver for gold? I'm starting to get a bad feeling about silver getting caught up in the next leg down as we saw last year, I think we're about to see the same again. My thoughts are... I think we will see a retest of $16/t oz and irrespective of the resistance being broken, silver will get washed away with the stock market once more. My gut feeling is, the flight to commodities won't happen just yet, gold of course will do well in the next leg down, but silver is IMO still speculative at this point. Any thoughts...? Link to comment Share on other sites More sharing options...
romans holiday Posted August 19, 2009 Report Share Posted August 19, 2009 Is anyone thinking of trading silver for gold? I'm starting to get a bad feeling about silver getting caught up in the next leg down as we saw last year, I think we're about to see the same again. My thoughts are... I think we will see a retest of $16/t oz and irrespective of the resistance being broken, silver will get washed away with the stock market once more. My gut feeling is, the flight to commodities won't happen just yet, gold of course will do well in the next leg down, but silver is IMO still speculative at this point. Any thoughts...? I have become enamoured with Yen of late. If you want to increase your silver holding by speculating why not swap for Yen at some point. Swapping for gold is fine, but would be like taking money of the table. Link to comment Share on other sites More sharing options...
TrueNorth Posted August 19, 2009 Report Share Posted August 19, 2009 I have become enamoured with Yen of late. If you want to increase your silver holding by speculating why not swap for Yen at some point. Swapping for gold is fine, but would be like taking money of the table. Good point. Warpig, I watched silver get hammered in last autumn's crash and I wasn't keen to see it again. Based on the menacing clouds hovering over the market, plus Bob Hoye's warning, I swapped silver for gold the other day. Bob said to lighten up on the senior silvers in late May/early June, and I regretted I didn't take this on board and swap out for some good profits around £9.60. I hadn't considered the Yen trade Roman suggests, I simply wanted to get out of the volatility/vulnerability of silver for the mo. I am very bullish on silver and will be back in, big time again, once the dust settles. Link to comment Share on other sites More sharing options...
romans holiday Posted August 19, 2009 Report Share Posted August 19, 2009 The decline is fast and furious. It looks likely that silver will go below the previous dip of 12.60 odd. I hope to be start buying with dollars at around 12.00 and with Yen at around 1100. Relative to the decline against Sterling, silver has dropped a further 25% against Yen. This is due to the fact Yen strengthens [even more than the dollar] when silver weakens while Sterling also weakens [against the dollar and Yen] but at a slower rate. edited. Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 What makes you say this? I'm expecting gold to start to make its move as silver starts its downward path, so it should be a win/win situation if I'm right. Do you concur and what are your expectations of Yen over this period? Incidentally I am probably only talking about swapping for 8 weeks and then I'll be back in the silver camp again. I have become enamoured with Yen of late. If you want to increase your silver holding by speculating why not swap for Yen at some point. Swapping for gold is fine, but would be like taking money of the table. Link to comment Share on other sites More sharing options...
romans holiday Posted August 19, 2009 Report Share Posted August 19, 2009 What makes you say this? I'm expecting gold to start to make its move as silver starts its downward path, so it should be a win/win situation if I'm right. Do you concur and what are your expectations of Yen over this period? Incidentally I am probably only talking about swapping for 8 weeks and then I'll be back in the silver camp again. I certainly do not mean anything negative by the phrase "taking money of the table". What I mean by that is the booking of profits which is fine. I view gold as non-speculative now and the place to park capital once it is made. Silver is still speculative and offers a good opportunity to trade. I doubt very much gold would move up when silver moves down. Many here are looking to trade out of silver into gold as the ratio moves up, which is a good strategy, but I doubt the price would move up with the ratio. I view this positively, in that the volatility of gold has settled down as it has effectively become monetized. Notice when absolutely everything is going down, gold has only gone down a few dollars. If gold has become a currency, its rise will be linear not parabolic. Of course, if everything fell over again and the market panicked.... I regard Yen as the natural trading partner for silver. Silver moves up on the risk trade and down on the risk averse trade. Yen does the opposite. Both of these currencies do this better than any of the others, so you could consider they stand at opposite ends of the currency spectrum. I also think both currencies are solid, so next to no risk is involved. Plus you don't have to hold your nose and buy dollars. Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 Well this is it... What surprises me is how long the markets are maintaining their typical trading profiles. Medium to long term we know what is going to happen with PMs, but because of storage and transaction fees, my average price for silver isn't as good as I'd hoped. I think what's certain is the stock markets are going down, the market IMO is anticipating this based on legal insider trading volumes. I am extremely bullish on silver, but knowing this is going to happen is killing me, I feel I should do something to minimise my short term losses. As mentioned above I want to be back in, in around 8 weeks after it starts to slide. Good point. Warpig, I watched silver get hammered in last autumn's crash and I wasn't keen to see it again. Based on the menacing clouds hovering over the market, plus Bob Hoye's warning, I swapped silver for gold the other day. Bob said to lighten up on the senior silvers in late May/early June, and I regretted I didn't take this on board and swap out for some good profits around £9.60. I hadn't considered the Yen trade Roman suggests, I simply wanted to get out of the volatility/vulnerability of silver for the mo. I am very bullish on silver and will be back in, big time again, once the dust settles. Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 I think we have time to retest £9/t oz before it slides... The advantage of swapping metal for metal rather than metal for currency and vice versa at GM, is the rates are pretty good. They certainly encourage you to stay in PMs. The decline is fast and furious. It looks likely that silver will go below the previous dip of 12.60 odd. I hope to be start buying with dollars at around 12.00 and with Yen at around 1100. Relative to the decline against Sterling, silver has dropped a further 25% against Yen. This is due to the fact Yen strengthens [even more than the dollar] when silver weakens while Sterling also weakens [against the dollar and Yen] but at a slower rate. edited. Link to comment Share on other sites More sharing options...
romans holiday Posted August 19, 2009 Report Share Posted August 19, 2009 I think we have time to retest £9/t oz before it slides... The advantage of swapping metal for metal rather than metal for currency and vice versa at GM, is the rates are pretty good. They are certainly encourage you to stay in PMs. I will only trade VERY infrequently on the big moves, otherwise, as you suggest, what is the point. Link to comment Share on other sites More sharing options...
TrueNorth Posted August 19, 2009 Report Share Posted August 19, 2009 The advantage of swapping metal for metal rather than metal for currency and vice versa at GM, is the rates are pretty good. They are certainly encourage you to stay in PMs. Yes, I suppose. But because you sell silver at spot but buy your new gold at a premium, I haven't preserved a whole lot more on this swap than if I hadn't swapped. If silver continues to drop though, it will have been a good move. Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 I agree, gold has established itself as the currency of last resort. I do however think we are in for another panic phase and with that, I expect gold to make a move to the upside. I certainly do not mean anything negative by the phrase "taking money of the table". What I mean by that is the booking of profits which is fine. I view gold as non-speculative now and the place to park capital once it is made. Silver is still speculative and offers a good opportunity to trade. I doubt very much gold would move up when silver moves down. Many here are looking to trade out of silver into gold as the ratio moves up, which is a good strategy, but I doubt the price would move up with the ratio. I view this positively, in that the volatility of gold has settled down as it has effectively become monetized. Notice when absolutely everything is going down, gold has only gone down a few dollars. If gold has become a currency, its rise will be linear not parabolic. Of course, if everything fell over again and the market panicked.... I regard Yen as the natural trading partner for silver. Silver moves up on the risk trade and down on the risk averse trade. Yen does the opposite. Both of these currencies do this better than any of the others so you could consider they stand at opposite ends of the currency spectrum. I also think both currencies are solid so next to no risk is involved. Link to comment Share on other sites More sharing options...
warpig Posted August 19, 2009 Report Share Posted August 19, 2009 Being certain you can offset the transaction cost against market trends is the tricky bit, hopefully we both get it right. Yes, I suppose. But because you sell silver at spot but buy your new gold at a premium, I haven't preserved a whole lot more on this swap than if I hadn't swapped. If silver continues to drop though, it will have been a good move. Link to comment Share on other sites More sharing options...
Mr Pipples Posted August 19, 2009 Report Share Posted August 19, 2009 Not sure if this got posted... China has introduced its first-ever investment opportunity for silver bullion. The bars are available in 500 grams, 1 kilogram, 2 kilograms and 5 kilograms with a purity of 99.9 percent. Link to comment Share on other sites More sharing options...
romans holiday Posted August 20, 2009 Report Share Posted August 20, 2009 The trend is for the Yen to continue strengthening against the dollar. I think silver will continue down here. Link to comment Share on other sites More sharing options...
romans holiday Posted August 20, 2009 Report Share Posted August 20, 2009 I think it is also interesting to note that the Yen/Dollar cross signalled the decline in silver in advance. Link to comment Share on other sites More sharing options...
TrueNorth Posted August 20, 2009 Report Share Posted August 20, 2009 I think it is also interesting to note that Yen/Dollar cross signalled the decline in silver in advance. Hmmmm. Velly intellesting. Link to comment Share on other sites More sharing options...
alexreeve Posted August 20, 2009 Report Share Posted August 20, 2009 With coininvestdirect can you just do a free online bank transfer (if UK based) or do you have to go to the bank and do a £30 chaps transfer? Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 20, 2009 Report Share Posted August 20, 2009 With coininvestdirect can you just do a free online bank transfer (if UK based) or do you have to go to the bank and do a £30 chaps transfer? They have a UK account, so it's free if you know how to do it. Link to comment Share on other sites More sharing options...
Mr Pipples Posted August 20, 2009 Report Share Posted August 20, 2009 With coininvestdirect can you just do a free online bank transfer (if UK based) or do you have to go to the bank and do a £30 chaps transfer? You can do a free BACS transfer - just might take a few days to clear. Link to comment Share on other sites More sharing options...
nicejim Posted August 20, 2009 Report Share Posted August 20, 2009 You can do a free BACS transfer - just might take a few days to clear. Just to add that the price is locked in if you get the money there in a reasonable time (eg. if it looks like you kicked off the transfer shortly after placing the order). Link to comment Share on other sites More sharing options...
wren Posted August 20, 2009 Report Share Posted August 20, 2009 With coininvestdirect can you just do a free online bank transfer (if UK based) or do you have to go to the bank and do a £30 chaps transfer? The invoice gives 2 bank accounts. One in London one in Germany. London is for GBP payments only. Link to comment Share on other sites More sharing options...
romans holiday Posted August 21, 2009 Report Share Posted August 21, 2009 Looking out a bit further, Yen/dollar cross could fall to 92.00 on risk aversion pulling silver down to perhaps below 1100 Yen. I doubt the silver price would come down quite as much in the dollar. The dollar is not strengthening as much as the Yen. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted August 21, 2009 Report Share Posted August 21, 2009 Not sure if this got posted... China has introduced its first-ever investment opportunity for silver bullion. The bars are available in 500 grams, 1 kilogram, 2 kilograms and 5 kilograms with a purity of 99.9 percent. Have I missed the replies to this ?! If there are none, I am amazed. This is a HUGE story. Link to comment Share on other sites More sharing options...
nicejim Posted August 21, 2009 Report Share Posted August 21, 2009 Have I missed the replies to this ?! If there are none, I am amazed. This is a HUGE story. It got a mention a few weeks ago http://www.greenenergyinvestors.com/index....mp;#entry119435 Link to comment Share on other sites More sharing options...
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