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Is everyone still buying the same??


Bigchilli

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Hi folks

I only got into PM's around oct-nov 2015 when the prices just happened to be at 6 year lows

I'm just wondering what everyone is buying or not buying at the moment

ie my 1st sov cost me £180 same sov now is 225+

I'm finding it hard to jump back in but really want too start stacking again,been saving some cash and it's burning a hole in my pocket ;)

Any advice would be great

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Hello Bigchilli

I am probably in the minority, as I have been selling gold at these prices. Sent a lot of stuff to 2 dealers bit by bit ever since we went above £850 per oz.

Still picking up 1/4 Brits if they appear but that is about it. I plan to get back in when below £750 oz. if it doesn't happen I have a small reserve which will see me right if gold hits Rickards prediction of $10,000 per oz :D

I know many are buying high or low and I can't knock that, but for me has been a golden opportunity to sort out the stack.

Currently stacking 1/4 oz (22ct) and Sovs.

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I'm trying to buy more gold now, I started stacking a little over a year ago and I started buying silver when spot was £11.05 and I managed to cost average my buying down to a spot low of £9.18.  My stack is averaging out at £13.40 which I don't consider to be all that bad as I have a mixed stack with a lot of semi numismatic stuff like Kooks and Pandas so once the premium is added just for getting the silver pressed into a coin I think it's bearable.

My gold I bought most of my stack at a spot of just under £800 and I lost a good bit when spot started dropping but again I just kept buying and cost averaged all the way down and the rise in spot now means I could sell and make £100 profit an ounce. 

But what I'm finding now is I'm grudging paying more than my cost average for silver but I'm not so averse to still buying gold at the dearer spot as I do believe that once the masses eventually catch on to how bad the world economy actually is there is still more immediate upside on gold.

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Ive only been into PMs for about a year and I've also sold all of my gold bullion, mainly sovs, at the recent high as my aim was to make a profit. When my target % profit was met, I sold. Kept the proofs and semi numi bits though. I've not sold any silver and I'm still buying both bullion and semi numi.The money from the gold sells I've used to day trade on the markets and forex. When/if, the price of gold falls back, later in the year, I'll buy back into physical gold. 

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Since the beginning of 2016 I've been playing wait and see with gold, neither buying nor selling. There may be some profit-taking, and gold has a seasonal element (weaker in the summer months), so the price may well fall back. If it does, I'll buy some more in the summer. If there is no fall in the price of gold, and gold miners, over the summer months, I will take this as a strong bullish signal.

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I will continue to buy every month. I'll buy when the price rises and i'll buy when it falls. The only time I will sell is when it reaches new highs. When gold hits £1200 an ounce I'll sell, When silver hits £30 an ounce I'll sell.

People waiting for the $50k gold and $1k silver are living in a dream world. If the world has got so bad that PM's are hitting those prices, inflation will be so bad that by the time you have sold your PM's and converted them into cash, you'll have lost the profit you made due to the economy going tits up.

Loved the recent verbal diarrhea from "guru" Rickards. Gold going to the moon because people will panic because of Russian cyber attacks on their bank accounts. No one will trust banks etc etc. Whilst this may be true, what he forgets to mention, is that your local supermarket doesn't accept silver or gold coins, (nice one Royal Mint, not even worth face value now, eh?), so you'll still need to use these banks that no one trusts in order to live.

Never trusted these Chicken Little "experts" (experts  my arse, as Jim Royal would say). For the last three years  they have claimed that prices were going to rise to silly levels, next week, next month, next quarter etc etc. They havn't got a clue what will happen, and yet the sheep still watch their youtube videos and buy their books, (toilet paper is a lot cheaper), and hang on their every word.

The only thing you can do is sit back, wait, take a bit of modest profit, (my minimum aim is to make the equivalent of 10% profit per year of holding an item), and ignore everything else.

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I have used the price rise to sort out my holdings, mostly been selling lots of random bits and pieces I picked up to consolidate the stack back into CGT free coins mostly Britannias, lunars, sovereigns. I was lucky to mostly sell at high and buy on the dips, mostly, so my average is only slightly up. I have also converted some of my gold into silver as I was underweight and wanted at least 10% in silver which I now have. I did pick up a couple of pieces such as the queens beast which has made a little dint in my average. 

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40 minutes ago, PureGold said:

Personally I make sure I always have a set amount of cash available at all times.. Anything I have extra goes on Gold unless it hits a new high then I'd pause but I'll keep buying until then.

Think this is going to be my philosophy

Both silver and gold are well below my original set selling point

Guess I've been spoiled with the low prices 

Thanks for the advice chaps 

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I'm still buying a little gold but trying to hold off in general unless it's something that interests me i.e. Slightly older gold.

I haven't bought much silver of late but will have to pick up a few 2016 pieces just for completeness (is that even a word?)

 

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I'm aggressively buying now (Grrrr)! The more I read about national debt, and look at images of how the US national debt looks, the more I want to make sure I survive, or even benefit from what's coming. If nothing comes of it then I still have some lovely pieces which make me happy when I look at them. Also reinvesting in mining shares as I did a few years ago during boom times.

Currently stacking 10oz Unas and Britannia bars 

 

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Very true HH. I remember reading books on the subject around 7 years ago - I know the economy has changed in that time but the crazy predictions for gold and silver didn't happen. About to start reading a few more books on the subject to see exactly what has changed. 

Currently stacking 10oz Unas and Britannia bars 

 

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15 hours ago, onlyroadtoheaven said:

Very true HH. I remember reading books on the subject around 7 years ago - I know the economy has changed in that time but the crazy predictions for gold and silver didn't happen. About to start reading a few more books on the subject to see exactly what has changed. 

Why waste money on worthless books written by people who's only agenda is to make money from selling books. If they really knew what was going on, they'd keep quiet about it and use that information to make themselves millionaires. You'd be better off spending the money on a few more bits of silver.

The one thing you can rely on is that at sometime in the future gold and silver will hit new highs. It may be next week, or next year, or next decade or next century but it will happen. All you can do is keep your fingers crossed that it happens in your lifetime and whilst the economy is relatively stable  

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Interesting interview, a bit OTT in parts, sounded a bit paranoid delusional at times but some useful stuff I didn't know about. Ultimately though I have heard this kind of stuff for years. Just round the corner this, soon this will happen that. Hedge against such things but don't let fear become your investment strategy. 

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1 hour ago, PureGold said:

I've just watched this interview and there are some big claims being made thought I'd give it a share 

 

 

Fingers crossed the dollar is devalued by October. I'm off to Florida for two weeks, could do with some extra spending money ;) 

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33 minutes ago, KDave said:

Interesting interview, a bit OTT in parts, sounded a bit paranoid delusional at times but some useful stuff I didn't know about. Ultimately though I have heard this kind of stuff for years. Just round the corner this, soon this will happen that. Hedge against such things but don't let fear become your investment strategy. 

To be fair he did call the Deutche Bank rigging exposure coming out before it happened, if you go through the USA Watchdog videos and find the Rob Kirby one prior to this one he does say it's coming.  Must admit I dismissed it as the usual speculation myself at the time.

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I think that's just an option that's there if needed, if I was the banks and looking for someone to blame for a financial crash I would choose Brexit, just tank everything a week after the Brexit vote and blame that.  We know they can manipulate whatever they need to if required, Britain votes out, Italian banks crash and burn not long afterwards finishing the EU and global meltdown ensues,  Then the banks step in with whatever solution to the problem they want to peddle next is.

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I'm not sure why some commentators think that the Deutsche Bank admission that it manipulated the silver and gold prices is such a big deal. UBS copped to the same charge last year, and I daresay other banks will too in future: maybe HSBC or Scotia. These days, banks admitting to manipulation is so commonplace that it is just accepted as par for the course. It won't even make them stop.

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