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What are the attitudes and opinions of gold and silver you've heard from people in your office/workplace/friends and family/social circle, and what proprtion are invested in gold and silver?

Edited by Britney's Piers

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One person I know (who introduced me to HPC & GEI) has some physical gold and silver along with mining shares. Everyone else has sent their gold off to cash4gold and pi$$ed the pittance they got up the wall. Friends think I am mad, family think I am mad and colleagues wonder why I have such a big shiny paperweight on my desk at work.

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One person I know (who introduced me to HPC & GEI) has some physical gold and silver along with mining shares. Everyone else has sent their gold off to cash4gold and pi$$ed the pittance they got up the wall. Friends think I am mad, family think I am mad and colleagues wonder why I have such a big shiny paperweight on my desk at work.

Absolutely no-one in my social circle, in fact having told some close friends

I invested in gold they congratulated me on my foresight (having made 300% gains in some

cases), before telling me I should sell soon. Missing the point somewhat.

Quite a salient point was made in an interview between Alex Jones and GATA's

Bill Murphy recently that a recent gold survey showed that 90% of people think

gold is going to go down. This should be an indication, that this bull market

still has some way to go, as markets generally top out when sentiment is high,

i.e. the majority of people think the price will go up further.

With gold essentially what we have is a stealth bull market. You tend to find

a lot of negative coverage of gold in the financial media, which helps keep

the demand side of the equation in check, working alongside manipulated market

movements to burn small private investors in favor of the institutional insiders.

The gold & silver price is like a football being held under water whilst being

pumped up. It's not sustainable imho, as Maggie said once "you can't buck the

market".

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What are the attitudes and opinions of gold and silver you've heard from people in your office/workplace/friends and family/social circle, and what proprtion are invested in gold and silver?

People have been sceptical of my gold holding since USD$400 a troy ounce. Over the years I have put about £20,000 into gold. My holding is now worth about £50,000, one of the best investments I have ever made. My only regret is that I didn't buy more of it. I have been repeatedly looked at askance etc. for the past 6 years for holding gold, albeit by the same people who thought I was a nut when I said the euro was going to come unstuck within a decade and who thought I was barking mad me when I said a bank run in the UK was imminent (I made that prediciton to a colleague a couple of weeks before Northern Rock, explaining to him why I was withdrawing a large amount of cash as well as buying more gold. Yet, even after that bit of prescience he still left money in Kaupthing when I told him it was extremely risky.)

The negative attitude to metals is much more common in Britain than it is in Australia. Since I have been a child, the gold price has always been reported every night on the Australian news. It is viewed as something valuable here by many, a form of money, and not a relic. People in England, including many financially sophisticated types, view precious metals as a barbaric relic, a view that a large proportion of the rest of the world just does not have.

I don't tell too many people who know me that I have gold. However, about the only people who have been positive have a been an accountant and a cousin who, unbeknownst to me, had bought many, many kilograms of silver when it was about $1.50 an ounce. Buried all over his property. This guy left school at 15 and built his own earth moving business, and was astute enough to see that silver was ridiculously underpriced. Sometimes a "higher" education just obfuscates the obvious.

When everyone starts agreeing with me, I'll be looking to sell.

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What are the attitudes and opinions of gold and silver you've heard from people in your office/workplace/friends and family/social circle, and what proprtion are invested in gold and silver?

I got pretty heavily into gold and silver about three years ago, not nearly as smart as some people but enough to see some very healthy gains; wish I had done more. When I did this I discussed it with a few people most of whom looked at me like I was some madman out of a Mad Max movie so I stopped ever mentioning it.

Interestingly one of the older and very senior guys I worked with always talked about getting heavily into gold in the 70's and how he lost his shirt when it came down and 'would never again'. The world has of course moved on but maybe a word of warning there...........

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I have had a kilo bar of gold for a while , I used to show it to people for a laugh who all then thought I was a total nutter , now it is well hidden and it never comes out !!!

As recently as the 1930's the US government made ownership of gold illegal, it all had to be sold to the government at low prices, when things get nasty this sort of thing will happen in the UK too

The cheapest way to own gold at the moment is shares in AAZ ( anglo asian ) it trades soooo cheap its scary ....( market value around 1 times next years profit ) , they pull out of the ground around a quarter of their market capitalization in low cost gold in a good month ....

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The negative attitude to metals is much more common in Britain than it is in Australia. Since I have been a child, the gold price has always been reported every night on the Australian news. It is viewed as something valuable here by many, a form of money, and not a relic. People in England, including many financially sophisticated types, view precious metals as a barbaric relic, a view that a large proportion of the rest of the world just does not have.

Yes they do report the gold price on the news but i think that is more because Aus is heavily invested in mining and mining shares.

It is far more likely to invest in mining shares than in actual physical gold in my experience.

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My dad has a stack of krugerands he bought when the price was about 450ish, everybody laughed at him pointing out that even Gordon Brown was getting rid of gold as Gordon brown was such a good economist he had to be right. My own krugerands were bought just after this.

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I got into precious metals in 2005 courtesy of the infamous Dr Bubb who kept ramping them (correctly as it happens)

I look back with nostalgia to the days when Krugerrands were in plentiful supply for £250 each on eBay - can't bring myself to buy them at the current extortionate circa £850 price.

Nobody I know even thinks about gold speculatively. Since the dotcom days the only game in town for the British public has been property.

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Gold will power upto £1000/oz. Just like houses powering past £100K.

We'll be screaming it's a bubble, all the way past £2000/oz.

What's weird is that people in the media say it's a good time to sell gold as the price is "high".... especially on those "cash in the loft" type programmes.

BUT why are houses are always a buy even when their prices are high?

The public buy high and sell low?

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The gold is very precious. Its great source of financial power. Today in this era of extremely hilarious competition, people are greatly never disclose about their gold statics. So theirs is no meaning of having such gold discussions.

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can't bring myself to buy them at the current extortionate circa £850 price.

I know what you mean. Still, I did buy a couple of 1 oz coins at £717 or something like that. I don't feel too bad about buying them now.

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Normally I would agree that there is a time to sell, ideally when the majority are trying to pile in. However, in these times, I am not so sure. I have decided that I'm just not selling until I absolutely have to. The profits made when inflation really kicks in are likely to be lost if one sells too early. Unless you really have to have the money, I cannot see a benefit to be gained by selling, unless you are trading the metal/shares; selling them or the metal with a view to buying it back again to make even bigger gains, using the dips and spikes to make more metal.

Could also swap silver for gold if you want to make a turn on the price differential between silver and gold.

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To answer the OP, none of my friends have any interest after they have asked the question, "How much is it worth?" None of them realise the importance of protecting their wealth, regardless of the level. They won't even buy one silver coin, let alone a gold one. My own family listen politely, agree with the theory - and then promptly won't make any attempt to actually purchase any metal. I have given up on them; I have tried, and they have made their decision. So be it. The wife has just enough to protect her savings, so I'm content with that.

As far as I can see, the entire nation won't buy anything until 95% of the gains have already been made. They are simply too "sheeple" to take any risks, which means they will make an equivalent amount of gains, i.e. 5% if the're lucky. If there's a really stonking bubble and gold is severely over-bought, then a bit of profit-taking would be good; but my fear is that by that time, inflation will be increasing at such a rate, that the traders won't be able to realise their profits and then get back in to keep the insurance provided by gold.

There is a severe risk that they will make a one-off profit that will then be inflated away, leaving even those who bought gold at the top of the bubble, better off than those who sold it to realise a paper profit - and a paper profit is of no value if all you end up with is Zimbabwe dollars. If you get it right, you could get the profits and get back into physical gold when it spikes down hard. Just be careful out there.

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None of them realise the importance of protecting their wealth, regardless of the level. T

The wife has just enough to protect her savings, so I'm content with that.

If you don't mind me asking but what sort of percentage are you thinking about? (Ballpark figure is fine)

FWIW - I have the equivalent of 40% of my yearly take home pay in gold (80%) and silver (20%) with zero other assets :unsure:

I'm aiming to buy more gold and/or silver until it reaches 50% or maybe until I've reached some as of yet to be determined goal measured in ounces.

Thanks in advance

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There is a severe risk that they will make a one-off profit that will then be inflated away, leaving even those who bought gold at the top of the bubble, better off than those who sold it to realise a paper profit - and a paper profit is of no value if all you end up with is Zimbabwe dollars. If you get it right, you could get the profits and get back into physical gold when it spikes down hard. Just be careful out there.

As long as rates are negative for savers then you should hang on to your gold.

When savings rates start to reward savers - whenever that is then you will have a sell signal. I agree however that an exit strategy is needed.

I resent being forced into this wealth preservation lark. I would rather just save at a decent interest rate - but we all have to duck and dive these days.

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Normally I would agree that there is a time to sell, ideally when the majority are trying to pile in.

The majority will never pile in. Gold doesn't need the man on the street's participation in order to go stratospheric.

Look at the percentage rise since 2001 achieved without the retail speculator and without much fund manager interest.

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The majority will never pile in. Gold doesn't need the man on the street's participation in order to go stratospheric.

Look at the percentage rise since 2001 achieved without the retail speculator and without much fund manager interest.

I think it does, there is clearly fund manager interest been building as it couldnt have reached this price without it, its part of the reason for its rise. The percentage rise to date may not be stratospheric, but it cant go parabolic without retail speculation. Its like looking at the Nasdaq between 1990 and 1997 it went from 100 to 1000, not indifferent to golds current rally, in fact bigger, it took retail buying to send it stratospheric to 5000 between 98 & 2000, if you think the majority will never pile into gold you havent analysed the late 70s market, it had widespread retail participation to drive it parabolic

Edited by Tamara De Lempicka

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if you think the majority will never pile into gold you havent analysed the late 70s market, it had widespread retail participation to drive it parabolic

The man on the street is tapped out this time round. Regular people (share club types etc.) bought tech stocks in the late 90's because they could afford a punt.

I doubt they can scrape £900 together for a Krugerrand these days. The retail investor has had two scares in close succession - dotcom and the 2008/2009 stock crash. I sometimes doubt whether my beloved gold stocks will ever do anything courtesy of the herd.

I maintain in a small market like physical gold, you don't need joe sixpack's money to make it go vertical.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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