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Is Anyone Here Still Buying Gold?

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I buy gold CFDs. I've muffed up a bit over the last few weeks because I thought the price would hit the 480-490 mark before it rose again and it did but for barely ten minutes. Like everyone else, I view the long term as up, but I'm waiting a week or two for everything to settle down before I get in again. If you're in it for the long term it doesn't matter that much if you buy for 525 (what it was when I last looked) or 510 or even 485 because the forecast is so positive - 600 within 6 months and then some seems to be the average prediction. But I'd be tempted to watch for ten days or so.

I'd like to see what others think though.

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I'm still buying silver bought a load on the pullback to 8.84 I just buy every week or month as fast as I can earn the money to buy it.

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Thanks

Jon, why silver when all the hype seems to be gold?

With Silver you get far more scooby snacks for your hard earned pennies.

The supply demand fundamentals make Silver far more attractive to gold, 15 years of supply deficit and demand that can't be met by supply. Silver is not just a precious metal, its an industrial commodity, over the last 15 years someting like 80% of the stockpiles of silver have been used by industry. Yet the price doesn't reflect this.

The potential for Silver even before adjusting the price for inflation looks great. The downside is that you pay VAT on silver in the uk, and the whole supply demand issues make it wise to take delivery of the metal.

Do your own research though,

Scooby

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I'm still buying silver bought a load on the pullback to 8.84 I just buy every week or month as fast as I can earn the money to buy it.

Jonpo,

How do you actually buy your silver?

CS

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scooby is correct.

with silver there is a very large supply backlog.

however the reserves of mineable silver are there,it's just the machinery to mine+refine has not been bought and utilised.

silver could run out of steam in 4 years or so if the infrastructure is purchased now.

...but make hay while the sun shines!

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Anone here buying gold at the current high or waiting for a pullback? If the latter, what price?

Thanks

I'm waiting to buy some GBS. I too got caught out by what is looking like a double top and am waiting for a pullback. But it is a very difficult call and I began to think there would not be one. Now my feeling is there will. The US government is on a charm offensive this morning with lots of warm and soothing words for investors. Also the Chinese statement does seem to have been over-reacted to. So now I think wait a bit and see if the price continues to drift down. The Elliot Wave guys are saying 495 as the next bottom but I would get back in at 520. Other views?

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I'm waiting to buy some GBS. I too got caught out by what is looking like a double top and am waiting for a pullback. But it is a very difficult call and I began to think there would not be one. Now my feeling is there will. The US government is on a charm offensive this morning with lots of warm and soothing words for investors. Also the Chinese statement does seem to have been over-reacted to. So now I think wait a bit and see if the price continues to drift down. The Elliot Wave guys are saying 495 as the next bottom but I would get back in at 520. Other views?

If it went back down to $495 I would borrow money to buy gold. I'd even borrow money to bet on gold. Well, I wouldn't, but you know what I mean.

Some sort of pullback would be very healthy. The amount of poisitive hype there is about it at the moment is making the whole thing a bit bubbly.

China has apparently now said it's not going to buy gold, which might spark a pullback - http://au.biz.yahoo.com/060109/18/gn71.html

But the way it's going, $520 doesn't look a bad price. Depends how quickly it goes there, I guess. $520 would certainly get the fingers on my mouse twitching.

Sorry - correction. China has not said they won't buy gold. Analysts have said it's unlikely they will.

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Isn't Platinum supposed to be 10x the price of gold?

Dose this make Gold expensive now or is Platinum undervalued?

Incidently, Platinum is at a 25 year high so I am confused which would be the best to hold.

platinum is rapidly being overtaken in usefulness by palladium.....it works just as well in cat convertors but at 1/4 the price.

gold is the currency play of choice.....to be honest I thought it would have pulled back by now,but it is looking very resilliient,even at these levels.

I will be buying again.....I honestly thought we would see a more noteable pullback but it looks like it wants to break up again very soon.looks like the iran oil play has the bugs buying!!

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Jonpo,

How do you actually buy your silver?

CS

I buy silver through capitalspreads www.capitalspreads.com. the reasons for spreadbeting as a higher rate UK taxpayer are HUGE. but to take leveraged positions is at the very top of the risk reward pyramid, which is why I cannot ecourage anyone to take leveraged positions. I lost a lot trading before I started to show any kind of a profit.

Reasons include:

no CGT

no VAT - big one this as silver is not classed as an investment metal under UK law.

Leverage - good me because im poor.

minimum hassle.

tax free access to the COMEX silver market is a great tax break.

in answer to DRS. the reasons to own silver are severalfold.

- physically rarer than gold

- much smaller market cap of market

- potential for MUCH bigger gains. see graphs of late 70's silver prices, silver dwarfed gold and Oil

- Less press exposure for now

- demand supply deficit which has meant that physical supply has been getting run down for decades.

- silver mining has not been very profitable for a while

- Warren Buffet, Bill Gates and George Soros all have big silver positions or positions in silver miners. I'm willing to bet there are good reasons for that ;)

- possibility of Silver ETF being introduced this year which could see a big change in silver prices.

- historically silver trades at about 10-15 times less than Gold this ratio is currently over 60.

of course I could still be wrong about silver but it looks nearly as much of a no-brainer as "#11 Sugar" if anyone knows any who will take spread bets on NYBOT sugar I would love to hear from them :)

belive me though when you look at metals prices

Platinum=26 year highs

Gold = 24 year highs

Silver = 18 year highs

This is telling you something. BIG. why waste time?

the traders enemy is often himself. when the price goes up he wont buy because he is scared prices will go down and vice versa.

this is a bull market you know ? ;)

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Goldmoney.com has just introduced the ability to buy silver in the same way as you buy gold.

You can also do metal to metal transfers which might be useful to avoid some of the tax liability.

I am no tax expert however. :blink:

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  • 301 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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