Is the Gold & Silver rally too late?

[FlorinCollector]

Just wondering with the recent rise in Gold & Silver - I see a lot of sales on the forum. What is everyone putting the cash into?

I will make a decent profit if I were to sell but I can't see anything else that is worth buying.

[fehk2001]

donate profit to nhs?

[KDave]

I sold some to buy oil shares. Some not all, but if I could go back I would instead maintain the gold/silver position and accumulate oil over time, cost averaging in. 

Or yes you could sell and donate to the NHS. Why not just sell up and pay capital gains tax on your metals investment, if you did it the right way and avoided sovereigns and Britannia you can thus generously and virtuously donate via capital gains tax to the government, sorry the NHS. And just think, you are paying tax on saved income that was likely taxed the first time around, how generous! The NHS needs the money at the moment with the billions being printed by the BoE and borrowed by the government.

Don't worry too much though, even if you don't donate now, you are making a non voluntary and very generous donation to the government via the future tax rises and inflation that will be needed to repay this debt... Honestly. How generous. How virtuous! (sorry) 

[FlorinCollector]

I have been drip feeding some money into vanguard s&p 500 shares since the start of the virus @KDave. I just think that there is not much worth selling for. Unless people are just sitting on the cash to realise profits. 

[KitboyE17]

You could sell High now to pay Low later when the price falls again and get more gold/silver for your buck ... and do it all over again 👍🏻

[AuricGoldfinger]

I sold 8oz just before the coronavirus started happening when gold was at around £1250 an oz. I sold it as i was buying an investment property and the lender needed to see clear funds for not only the purchase deposit but also for what they deemed the value of renovations would be.

At the time although i was slightly reluctant i told myself i had made around £300 an Oz and i am a believer in investing for a purpose (obvious one being to make money) so I sold the 8oz which cost me around £7500 for around £10000 - winner! However, I ended up pulling out of the purchase due to Lockdown being announced and due to the type of mortgage not being able to complete works within a sensible time frame (it’s still difficult to get plaster and other building materials).

I ended up putting the money from the gold sale along with some more money I would have used on the purchase into an S&S ISA, which has done well so far and made me feel slightly better about the £250 rise in spot price per Oz.

However....what i have learned from the experience is that YES making and taking profits is nice and diverting it into other projects and investments can work well, BUT if I could do it again I would have kept hold of the gold and raised the funds another way. It’s strengthened my belief that the gold is there as a hedge against all the things we have going on now, and should things get worse at least you have one pot of money moving in the right direction. 

I said at the start the reason i invest is to make money but it’s helped me realise the reason I really invest is to build wealth.