Jump to content
House Price Crash Forum
Sign in to follow this  
jonesinamillion

Gold / Silver "shoe Shine" Time...

Recommended Posts

All the talk on here / other media about PMs having a shoe shine moment so just wondering how you all see it?

Admittedly I'm a "Jonny come lately", having taken the plunge about last sept / oct.

How many people who you know have invested in PMs?

For me, out of a very diverse circle of say 150 colleagues, family & friendsI'm the ONLY person I know who's put money into PMs; is this a reall reflection of what's actually heppening? i.e. joe public isn't clambering for gold / silver.

Share this post


Link to post
Share on other sites

I know of twenty people in real life who talk about PMs.

19 of those are Chinese people who have always bought gold and silver due to cultural influences. The other one was Jason who watched gold and silver go ballistic however did not hold any gold or silver as he had a 100% mortgage and had no spare money/.

Share this post


Link to post
Share on other sites

Forgot to add that I realise people won't shout it from the roof tops if they're holding physical but I'm talking about close associates who would mention it in conversation, most people I know, including very savvy & learned (and sometimes well off) people don't even know the first thing about PMs

Share this post


Link to post
Share on other sites

One other. A cousin of mine who built an earth moving and land development business from scratch after leaving school at 14. He has mountains of silver buried at secret locations on his acreage, all bought when it was dirt [sic] cheap.

Share this post


Link to post
Share on other sites

For me, out of a very diverse circle of say 150 colleagues, family & friendsI'm the ONLY person I know who's put money into PMs; is this a reall reflection of what's actually heppening? i.e. joe public isn't clambering for gold / silver.

In the UK, almost certainly.

Joe Public in the UK is more interested in selling their gold.

Share this post


Link to post
Share on other sites

I have a habit of doing something that gold bubble experts surely don’t do: I ask people who experienced the 1980 bubble in gold for their thoughts on today’s market. Every single one I have spoken to has told me there is no comparison and that the gold market was way crazier in 1980. I have also spoken to gold dealers who have told me that buying activity has not really picked up as gold has risen in price. Again, the only gold frenzy out there is in people’s imagination.

http://expectedreturnsblog.com/the-future-gold-price/

Share this post


Link to post
Share on other sites

Joe Public in the UK is more interested in selling their gold.

The problem is people simply don't see Gold as money. Give the average Joe £925 and a 1oz of Gold coin and ask him which he would prefer to keep. Do the same with me and I'll leave you nursing the paper ;)

Share this post


Link to post
Share on other sites

The problem is people simply don't see Gold as money. Give the average Joe £925 and a 1oz of Gold coin and ask him which he would prefer to keep. Do the same with me and I'll leave you nursing the paper ;)

£955 ! ;)

Share this post


Link to post
Share on other sites

Same as original poster, I know of no-one else with any sort of investment in PM's (unless they are keeping it hush hush very successfully.)

That's one of the reasons why I would be hesitant to class it as a bubble, during the housing boom, there were programs every night on television showing how easy it was to profit in houses, universities were even offering degrees on the subject.

The ordinary man is still selling Gold, and has no interest in silver palladium or platinum.

Share this post


Link to post
Share on other sites

Looks like I'm not alone in being alone then :D

Spot on. I know two others who (I think) have bought some. I didn't want to embarrass them by asking straight out if they had any, but you learn to read between the lines. One is a very savvy shares investor, the other one is like me, a bit of a SHTF believer, and we both think the world is going slowly down the drain.

I tried very hard to convince my own family to get just one ounce of gold each. Total failure. It took a year and a half of constant exposure to my stuff and my websites on the computer to get my wife, grudgingly, to put 5% of her spare cash into PM's. A few days ago, I told her that she had made 100% profit compared with the 1.5% (compounded) from the building society. She didn't even reply, just nodded.

One colleague at work was interested - I showed her the HGM website and she promptly showed up with her jewellery the next day and offered it to me at the HGM buy price, which was not quite what I was getting at. I bought her stuff for cash. There's no interest whatever. Nothing. People either don't have the spare money, or they're scared of being ripped off. Their eyes pop out when they see what granny's necklace is worth (at the Cash-for-Gold price!) and they want the FRN's, but that's it.

Share this post


Link to post
Share on other sites

I tried very hard to convince my own family to get just one ounce of gold each. Total failure. It took a year and a half of constant exposure to my stuff and my websites on the computer to get my wife, grudgingly, to put 5% of her spare cash into PM's. A few days ago, I told her that she had made 100% profit compared with the 1.5% (compounded) from the building society. She didn't even reply, just nodded.

I "stole" some of my wife's savings and so far she is 60% at least to the good. Alas very few women will actually thank you when you are right. My wife one told me that the trouble with me is that I was always right!

I suspect the chick logic behind this is that they can't gauge how good we are as the have no friends/family in the same position to compare against. It's the sheep/lemming mentality. This is why they always compare houses/cars etc because they are visible and the prices are easy to find. Give it time and you will be seen as the big swinging wee wee..;)

Much to my wife's distress I managed to convert my brother in law into buying 6 oz's. He is now 95% to the good. Depsite this my wife is still doing the backstoke passed the pyraminds..

That's my cod psychology lecture over for the day.

Share this post


Link to post
Share on other sites

No friends or family into PMs - im a pretty good reader of people and im confident that friends are following the sheeple with ISAs etc. Was chatting to my best friend about PMs and he sort of ribbed me about silver's collapse but i pointed out that buying at $22 oz and selling at $42 still means a fantastic return and dicks on his ISA any day of the week.

Share this post


Link to post
Share on other sites

No one I know is - it's all about Cash ISAs at the moment. It's gone a bit quiet on property but you still hear the odd comment etc.

I've been buying a little BUT I'm not sure that because the hype is about selling and not buying, it's not shoe shine time.

I think a lot will depend on Greece. What's the upside if a ) it's somehow all good OR b ) does pop, then what next?

Edited by 23rdian

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.