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jonesinamillion

Gold 'n Silver Prices

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There's no dedicated thread to discuss the short & long term fluctuations / predictions of our high density friends so I thought we should have one...

It's important to understand the fundamentals of PM movement for buying AND selling!

I'll kick start the thread; why (for what reasons?) after a couple of weeks of decline and or holding have gold & silver just taken a hefty jump over the last two days?

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Gold tends to go two steps forward and one back. See here:

2gwygox.gif

There are many factors that can influence the price in a global market, not all of them in open view. However, the trend is obvious, and the fundamentals supporting golds rise without doubt. As I stated in another thread today:

What will happen...

1. Western banks continue to ZIRP and QE in a bid to save their ponzi fiat debt scheme. Inflation continues to eat into fiat savings and earnings. Gold continues to appreciate as people seek safety from government/bank stealth robbery of their wealth.

Or:

2. Governments stop trying to fight the inevitable, or the bond markets force up interest rates anyway and systemic economic and financial collapse occurs. Governments voluntarily devalue their fiat currencies so they can cover their ponzi debts, or markets devalue currency for them, until it reaches it's true lower value. Gold appreciates as people seek safety from devaluing currencies, defaulting bonds and a crashing stock market.

That is the game. Win-Win or Lose-Lose, depending on whether you bet on Red or Black, Paper or Metal.

Trying to time the market, whether the best time to enter, or trading in and out for short term profit, is akin to picking up pennies in front of a steam roller. Who knows when the wheels will come off the dog and pony shows we call the global economy, the dollar, the euro, sterling etc.?

Buy gold and hold. Once you have the gold, you are safe. Don't be penny wise and pound foolish.

For the record gold dipped for 6 months after I went all in. I knew I was right to hold and two years later I am sitting on a 44% gain. That dip is now small beer and a distant memory.

Edited by General Congreve

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And just found this quote from Eric Sprott of Sprott Asset Management, very topical:

"I think that the prices will continue higher. I mean the amount of money printing is unbelievable. I just think you have to take that initial stand in terms of buying it. I use the James Turk analogy: just keep dollar averaging. We have gone up eleven years in a row, this year it looks like it will be no exception; I would certainly think next year will be no exception. If we ever have QE3 announced, I think gold and silver will just go absolutely bonkers here. And so I just think you have got to step in there and own it; we’ve had these fears all the way along. You know, $400, and $500 and $700 and $800 dollar gold, everyone was afraid it was a one-time thing. I don’t think it is a one-time thing, I think it is a secular thing. It’s going to carry on for quite a while here until we find some resolution of these problems. And the resolution probably will be some form of default where people just have to expunge debts that cannot be repaid. So, you have got to be in some asset which will not be affected by that." So predicts Eric Sprott, founder of Sprott Asset Management and famed investor. In this wide-ranging interview, he shares his insights on the precious metals markets - specifically what investors need to be aware of in terms of the way the markets are currently managed (manipulated), the macro outlook for the economy (grim) and the true value of gold and silver (very underpriced; particularly silver).

Link to full article

Edited by General Congreve

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And just found this quote from Eric Sprott of Sprott Asset Management, very topical:

Link to full article

Blimey and people were going ape over $800 gold.... its now $1500!

Say while we are on the topic of this, my gold collection is a bit unvaried, its just sovs and a couple of krugers.... Britanias have 10-15% premiums too high, while gold pound coins are dangerous. Might accidentally spend it...

Any other interesting gold coins?

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Blimey and people were going ape over $800 gold.... its now $1500!

Say while we are on the topic of this, my gold collection is a bit unvaried, its just sovs and a couple of krugers.... Britanias have 10-15% premiums too high, while gold pound coins are dangerous. Might accidentally spend it...

Any other interesting gold coins?

Manx Angels are gorgeous Ken , I was a bit surprised to get a couple from Chard when they sent me 'their choice' of ouncers as they were commanding a bit of a higher premium than the other ounce coins at the time B)

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You might want to check this out...

It was published last year.

I was reading an article i accessed through zero hedge , which I'll try and find , and it suggested there's a 'seasonal lull' during june and july , and also rising gold prices can be linked to the Indian 'wedding season' - I think it said october was the 'big' month for the shiny stuff on that front . Be interesting also to see how this forex ban on OTC paper trading affects things , think thats coming up on the 15th ?

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Krugerands up to £1015 and kg of silver up to £782 today on Bullion by Post. Wish I'd filled my boots - why the big jump today?

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Krugerands up to £1015 and kg of silver up to £782 today on Bullion by Post. Wish I'd filled my boots - why the big jump today?

possibly the Portugal downgrade and concerns over a bailout for them ?

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Krugerands up to £1015 and kg of silver up to £782 today on Bullion by Post. Wish I'd filled my boots - why the big jump today?

I was thinking the same thing. Managed to grab 4 sovs off Bairds before work so quite enjoyed the jump! I'm pretty new to the PM market so any small fluctuation is still quite exciting to me.

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I was reading an article i accessed through zero hedge , which I'll try and find , and it suggested there's a 'seasonal lull' during june and july , and also rising gold prices can be linked to the Indian 'wedding season' - I think it said october was the 'big' month for the shiny stuff on that front . Be interesting also to see how this forex ban on OTC paper trading affects things , think thats coming up on the 15th?

Seasonal averages....

http://www.seasonalcharts.com/classics_silber.html

Read and remember!!

Regards,

Paul.

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Gold just surging... was tempted / trying to buy 10 sovs during the week (only got a teeny bit of gold so far) but for a combination of - couldn't get the price I wanted to pay and hoping for a dip towards the end of the month I never purchased, great move :(

Just out of curiosity... opinions on why silver is taking a hit whilst gold is shooting skwards? :(

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Krugerands up to £1015 and kg of silver up to £782 today on Bullion by Post. Wish I'd filled my boots - why the big jump today?

Wish I noted the spot price(s) in the original post...

Just for the record, same seller now listing Krugs @ £1057 and 1kg silver @ £885 ( (£1062 inc VAT) only 20 days after the above post.

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Wish I noted the spot price(s) in the original post...

Just for the record, same seller now listing Krugs @ £1057 and 1kg silver @ £885 ( (£1062 inc VAT) only 20 days after the above post.

As an easy reference, the same seller again, offerng Krugs @ £1224 & Kilo silver bars @ £943 (£1132 inc vat) less than a month from abve post*; both of which are outof stock!

* Here was me thinkng that was expensive back then!.

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As an easy reference, the same seller again, offerng Krugs @ £1224 & Kilo silver bars @ £943 (£1132 inc vat) less than a month from abve post*; both of which are outof stock!

* Here was me thinkng that was expensive back then!.

Dont look back, it only makes you wince. I used to turn krugs around for about £50 profit when they were about £400.

I was turning kilo bars of silver at £300.

I look at what I held and what I sold and want to cry.

But I was turning it for a profit like a dealer does so it wasnt the end of the world.

What you have to do now is be realistic, be like a dealer imo, prices are too high for buy and hold. Go for paper accounts here.

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Dont look back, it only makes you wince. I used to turn krugs around for about £50 profit when they were about £400.

I was turning kilo bars of silver at £300.

I look at what I held and what I sold and want to cry.

But I was turning it for a profit like a dealer does so it wasnt the end of the world.

What you have to do now is be realistic, be like a dealer imo, prices are too high for buy and hold. Go for paper accounts here.

I don't fret about what could have been, I'm happy with what I hold compared to what I'm "worth" ; I'll hold my modest PM collection until...

Spot hits a figure that i have in mind to realise my "profit".

I hand them onto / leave them to my daughter (she's only 19 months old though!).

I'll continue to buy in bits 'n bobs (gold and or silver) if...

A - I deem it to be a decent price

B - I have the spare cash

C - I think there's still room for it to increase in value.

... for as long as it's not worth putting my cash in a bank!

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I don't fret about what could have been, I'm happy with what I hold compared to what I'm "worth" ; I'll hold my modest PM collection until...

Spot hits a figure that i have in mind to realise my "profit".

I hand them onto / leave them to my daughter (she's only 19 months old though!).

I'll continue to buy in bits 'n bobs (gold and or silver) if...

A - I deem it to be a decent price

B - I have the spare cash

C - I think there's still room for it to increase in value.

... for as long as it's not worth putting my cash in a bank!

Fair enough but you need to sit back and see if this is a time to be buying or if it is toppy.

"realising" profit sounds like trading but you seem more to be a buyer of coins and physical imo.

There is no realising of profit unless you sell your coins. There is no point in selling for a paper profit if you have bought for the reasons that I think you have.

There will not be a decent price to sell at - you will always have retirement/daughter in mind unless you need the money. So forget the physical and if you want to profit from moves then you have to play paper.

You do have to think very hard about your exit strategy though. Say you hold 300 sovs, if prices reach your target, say £3000 ozt, where are you going to sell them?

Who do you know is likely to be buying at a top?

Who will buy so much?

It sounds easier than it is, the truth is that even if you can identify the top there is no way that you will be able to sell for it, not physical anyway.

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Fair enough but you need to sit back and see if this is a time to be buying or if it is toppy.

"realising" profit sounds like trading but you seem more to be a buyer of coins and physical imo.

There is no realising of profit unless you sell your coins. There is no point in selling for a paper profit if you have bought for the reasons that I think you have.

There will not be a decent price to sell at - you will always have retirement/daughter in mind unless you need the money. So forget the physical and if you want to profit from moves then you have to play paper.

You do have to think very hard about your exit strategy though. Say you hold 300 sovs, if prices reach your target, say £3000 ozt, where are you going to sell them?

Who do you know is likely to be buying at a top?

Who will buy so much?

It sounds easier than it is, the truth is that even if you can identify the top there is no way that you will be able to sell for it, not physical anyway.

I'll never be selling 300 sovs :D

I have a few kg silver and a few oz of gold; bought out of frustration with investment oportunities, seeing what was happening to the global economy and to give something to my daughter.

If gold goes to say $10,000 / oz in the next few years I might cash bits in for a family holiday, home improvments, midlife crisis etc...

There's no point holding it for eternity or being "smart" with your hard earned if you can't enjoy it when yu want to.

As for puying a bit toppy, I saw a sov for £260 today and I could have haggled at leat a tenner off; if I wasn't doing a garden project I'd have bought it; wouldn't have missed the money, would have spent it on something else anyway and it'll be "worth more" in 12,24,36... months time if I wanted to sell or simply add it to my collection.

I suppose I've just answered my own / your question.... I use PMs as an aesthetic savings account that should beat inflation and could realise a good "profit"!

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I'll never be selling 300 sovs :D

I have a few kg silver and a few oz of gold; bought out of frustration with investment oportunities, seeing what was happening to the global economy and to give something to my daughter.

If gold goes to say $10,000 / oz in the next few years I might cash bits in for a family holiday, home improvments, midlife crisis etc...

There's no point holding it for eternity or being "smart" with your hard earned if you can't enjoy it when yu want to.

As for puying a bit toppy, I saw a sov for £260 today and I could have haggled at leat a tenner off; if I wasn't doing a garden project I'd have bought it; wouldn't have missed the money, would have spent it on something else anyway and it'll be "worth more" in 12,24,36... months time if I wanted to sell or simply add it to my collection.

I suppose I've just answered my own / your question.... I use PMs as an aesthetic savings account that should beat inflation and could realise a good "profit"!

If gold goes to $10000 in the next few years then it is unlikely that you will be selling an ounce for a family holiday. I know that you are new to this but there is a lot more to grasp than price targets and charts. Do you have any idea what $5000 gold would mean?

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  • 311 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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