Its all Doom & Gloom.....

[AaaGee]

So, with all that is happening in the world but specifically the UK over the next year or so. We are heading for troubled times.

How does it affect gold and silver prices? Are the lucky ones going to be able to grab a bargain or do the prices sky rocket?

Ive only got a few grams to get to reach my goal for this year. And i may not even bother with that.

Money in the bank for me is king at the moment. 

 

AaaGee

[Dazlenk]

The way things are going I think I'd have to agree with your "money in the bank" comment. I've bought a couple of silver coins recently to add to my Lib collection, but the gold coins I'd like to buy ( sov's, 1/4 oz tudor lion ) for my future investment stack will have to wait. I've got some building work starting in my house soon ££££££ and my job situation has become slightly more uncertain recently. So unless the pm prices plummet I'll be holding off on making any expensive additions to my stack/collection until things become more settled, in regards to both the cost of living and also my own personal situation. 

[AaaGee]

Yep, its the cost of living that ive started to notice.

Also a little guilty of over spending this year.

Im going for money in the bank and holding out untill next year when this thing really hits. And see how im getting on.

Maybe purchase, maybe not.

But not wanting to sell any PMs i have unless I really need to.

[James32]

Here's my logic for what it's worth. 

Our PM's ( well i mean your's as ive lost mine unfortunately) are for a rainy day, either we benefit financially from them or they literally save us from eating pebbles in the future. 

Always keep some cash on hand, whether in bank or under the 3rd floorboard from the left in nan's room😄

Banks can have problems and literally just "stop" giving out money,so best to have a back up for your back up too.

I will continue to buy metals within reason ( deal at the time) as longer term they will do ok. Sometimes the best time to buy something is when everyone is running in the opposite direction 🙃 

[Dakaras]

It's not looking great, I will keep buying PMs bit silver will now be just stuff I like at sensible premium's, saw a bar I really liked earlier but premium was way over what I'm prepared to pay at the moment where as a couple of months ago it wouldn't have bothered me. But also will be building up the cash at home stash and cutting back on lunches and breakfast out....which is a shame as worked hard to be able to finally do that as and when we want. 

Jacked in self employment after 18 years and winding business up, shame love what I do but it relies on people having problems that they don't want to sort themselves. 

[Gordy]

it's only doom and gloom if you let it be...... dont watch the news, dont buy a paper... problem solved.. 

[goldhunter]

26 minutes ago, Gordy said:

it's only doom and gloom if you let it be...... dont watch the news, dont buy a paper... problem solved.. 

also dont visit the shops or turn the heating on......problem definitely solved then

[flyingveepixie]

The trouble is that the currency, ie your 'money' in the bank, is being inflated away to zero worth, that's why you find yourself with ever decreasing purchasing power,  and it may be that the pms you hold will be the saviour of the day...There's a great series on youtube which was recommended to me the other day and which I watched in full and it's a real eye opener with regards to the difference between currency and money. Here's the link to episode one.

 

Edited August 6, 2022 by flyingveepixie

[Gordy]

1 hour ago, goldhunter said:

also dont visit the shops or turn the heating on......problem definitely solved then

I'm from the north east, we dont need heating.... just put on a jumper if it gets chilly 😂

[Bigmarc]

2 hours ago, Gordy said:

it's only doom and gloom if you let it be...... dont watch the news, dont buy a paper... problem solved.. 

Yes, let someone else worry about it.

[LawrenceChard]

2 hours ago, Gordy said:

I'm from the north east, we dont need heating.... just put on a jumper if it gets chilly 😂

I thought it was a vest or tee shirt you put on when it got down to -°C...

... along with shorts!

😎

[Gordy]

34 minutes ago, LawrenceChard said:

I thought it was a vest or tee shirt you put on when it got down to -°C...

... along with shorts!

😎

yep indeed, just -zero degrees isnt chilly... it gets a bit chilly at minus 3 onwards 😂

[Gordy]

37 minutes ago, LawrenceChard said:

I thought it was a vest or tee shirt you put on when it got down to -°C...

... along with shorts!

😎

seriously though, anything above 22 degrees and I'm f+^*ed!!!

[LawrenceChard]

7 hours ago, AaaGee said:

So, with all that is happening in the world but specifically the UK over the next year or so. We are heading for troubled times.

How does it affect gold and silver prices? Are the lucky ones going to be able to grab a bargain or do the prices sky rocket?

Ive only got a few grams to get to reach my goal for this year. And i may not even bother with that.

Money in the bank for me is king at the moment. 

AaaGee

 

7 hours ago, Dazlenk said:

The way things are going I think I'd have to agree with your "money in the bank" comment. I've bought a couple of silver coins recently to add to my Lib collection, but the gold coins I'd like to buy ( sov's, 1/4 oz tudor lion ) for my future investment stack will have to wait. I've got some building work starting in my house soon ££££££ and my job situation has become slightly more uncertain recently. So unless the pm prices plummet I'll be holding off on making any expensive additions to my stack/collection until things become more settled, in regards to both the cost of living and also my own personal situation. 

 

5 hours ago, James32 said:

Here's my logic for what it's worth. 

Our PM's ( well i mean your's as ive lost mine unfortunately) are for a rainy day, either we benefit financially from them or they literally save us from eating pebbles in the future. 

Always keep some cash on hand, whether in bank or under the 3rd floorboard from the left in nan's room😄

Banks can have problems and literally just "stop" giving out money,so best to have a back up for your back up too.

I will continue to buy metals within reason ( deal at the time) as longer term they will do ok. Sometimes the best time to buy something is when everyone is running in the opposite direction 🙃 

 

4 hours ago, Dakaras said:

It's not looking great, I will keep buying PMs bit silver will now be just stuff I like at sensible premium's, saw a bar I really liked earlier but premium was way over what I'm prepared to pay at the moment where as a couple of months ago it wouldn't have bothered me. But also will be building up the cash at home stash and cutting back on lunches and breakfast out....which is a shame as worked hard to be able to finally do that as and when we want. 

Jacked in self employment after 18 years and winding business up, shame love what I do but it relies on people having problems that they don't want to sort themselves. 

 

4 hours ago, Gordy said:

it's only doom and gloom if you let it be...... dont watch the news, dont buy a paper... problem solved.. 

 

3 hours ago, goldhunter said:

also dont visit the shops or turn the heating on......problem definitely solved then

 

3 hours ago, flyingveepixie said:

The trouble is that the currency, ie your 'money' in the bank, is being inflated away to zero worth, that's why you find yourself with ever decreasing purchasing power,  and it may be that the pms you hold will be the saviour of the day...There's a great series on youtube which was recommended to me the other day and which I watched in full and it's a real eye opener with regards to the difference between currency and money. Here's the link to episode one.

 

 

1 hour ago, Bigmarc said:

Yes, let someone else worry about it.

I am sure it is better to be slightly conservative when there are potential bad situations, and to always try to keep something in reserve.

It is never good to have to sell in an "emergency".

A good strategy would be to avoid the impulse, temptation buys, especially if it's a high premium item.

Although this might mean missing out if prices continue to rise, there may be later opportunities to grab a bargain.

High premium would include most silver, but you may get the chance to go for gold later.

If keeping your cash is bad for mints and dealers, let them worry!

😎

[Rains]

5 hours ago, Gordy said:

it's only doom and gloom if you let it be...... dont watch the news, dont buy a paper... problem solved.. 

Agreed no harm in keeping up with  developments but if you watch it daily its all terrible  and sets a bad mood 

[James32]

2 hours ago, LawrenceChard said:

A good strategy would be to avoid the impulse, temptation buys

I'd only be left with a few grams of gold and likely zero silver, But my blood pressure would be improved I'm sure!

[LawrenceChard]

10 minutes ago, James32 said:

I'd only be left with a few grams of gold and likely zero silver, But my blood pressure would be improved I'm sure!

I heard that you always spot opportunities to grab a bargain!

😎

[Xander]

[JoppySlow]

[CANV]

lol.  money supply is collapsing.   the BOE should be cutting rates now.  they of course should have been hiking them up to at least 3 or 4 pre cent 2 years ago.    fret not they will hike into the upcoming recession.  they are that s****