Stack has now been stashed

[frag]

Ok I've now put my stack in a safe place.

Already wish I had kept a few at home.

How long does it take before you stop checking the spot price on a daily basis?

 

Edited September 30, 2024 by frag

[ZRPMs]

I've heard of a team that can help. Here's the link Gold Price Charts UK | BullionByPost®

[AaaGee]

I keep some at home and most away.

You'll always be checking spot every day. It's a part of your new normal 😄

[Roy]

9 minutes ago, frag said:

How long does it take before you stop checking the spot price on a daily basis?

You check the weather forecast.

You check your stocks.

You check GBP vs USD.

You check the spot price of gold.

Every day over breakfast. And not always in that order 🙄 

[AaaGee]

18 minutes ago, Roy said:

You check the weather forecast.

You check your stocks.

You check GBP vs USD.

You check the spot price of gold.

Every day over breakfast. And not always in that order 🙄 

Just spot for me.

And usually my bank balance at some point whilst I'm on here in the evenings.

[Roy]

Which, since you joined the forum.... 😂

[metalsurfer2024]

My wife and I have ISA's worth over one million mostly invested in self selected FTSE 350 shares and various investment trusts. We check the prices only about once a week. We are relaxed - some go up some go down. Some are complete wipe outs e.g. Debenhams. Others like Experian have gone up 10 fold. Only just starting in gold, will buy Britannia coins on a regular basis so will benefit from pound cost averaging. Wil regard gold like my shares - a long term investment.

[Bratnia]

10 hours ago, frag said:

How long does it take before you stop checking the spot price on a daily basis?

Asking those that log into investment/metals boards each day of course excludes the many others that don't. For those with established portfolios that they are comfortable with they may only check/look once or twice/year - late March i.e. at a time to rebalance their portfolio in either the new/old (or both) financial year, and in December to do their on line self assessment tax return.

Personally I'm in drawdown and in my case I'd be "checking" once/month - a week or so before the credit card bills were due to be paid in order to sell enough of stock or gold to cover that. But I also partake in boards such as this, so my "checking" is frequent.

Less frequent checking, once/year is better placed IMO, is more inclined to capture larger moves in prices before you 'rebalance' (trade). With regular checking you may be more tempted to sell (reduce) after apparent good gains, that subsequently go on to have been great gains. Much of portfolio total returns/gains arise out of one asset having spiked up a lot, profit taking some of that to realign the value back in line with other assets (uplifts the whole). With regular checking that can set your mind on a £x K of profit, I'll take it now trading too often mindset that miss out on the larger £X K swings.

[Groundup]

9 hours ago, metalsurfer2024 said:

My wife and I have ISA's worth over one million mostly invested in self selected FTSE 350 shares and various investment trusts. We check the prices only about once a week. We are relaxed - some go up some go down. Some are complete wipe outs e.g. Debenhams. Others like Experian have gone up 10 fold. Only just starting in gold, will buy Britannia coins on a regular basis so will benefit from pound cost averaging. Wil regard gold like my shares - a long term investment.

Maybe worth taking a look at Kinesis.money

Another aspect to my diversification strategy.

Do due diligence 

[Bratnia]

Another factor with regular checking is that it may be more enticing to capitulate. Many investors profit chase, buy into what has already risen relatively quickly/largely, to then become disillusioned when the price reverts back down again, capitulate. Buy high/sell low. Much of investing is amount minimising mistakes and more preferably buying low/reducing high, along with cost averaging in and out over many years. The former set are more inclined to end up with total returns little different to had they cash-deposited their money, the latter capture the former's losses.

[Bratnia]

27 minutes ago, Groundup said:

Maybe worth taking a look at Kinesis.money

Another aspect to my diversification strategy.

Do due diligence 

Looked again, found ...

https://www.reddit.com/r/Wallstreetgold/comments/mnn0sp/kinesis_monetary_system_in_depth_due_diligence/?rdt=63507

https://kinesis.money/company-news/kinesis-exchange-pound-sterling/

Last time I looked and I was tempted, but didn't bother in the end. With my own setup I have regular VISA credit cards, a regular bank account, and stock brokerage accounts. Within the brokerage accounts both stocks and gold (broad/stock index funds, gold/silver ETF's (ETC's)). Spend using the credit cards, pay those off each month by selling either stock or gold, whichever is above your target % weighting at the time. In effect 'deposited' funds broadly earn 6% real (after inflation).

Currently with ii brokerage, that we've been with since they were TD Waterhouse, but looking to move over to iWeb. We used to have no monthly fee with TD but are now paying multiple £10/month account fees. £100's/year that iweb (in applying no fee) otherwise avoids. No fees for our regular bank accounts either, nor for the credit cards.

Physical gold for deep-gold storage, traded in 10 ounces type amounts i.e. Britannia 1 ounce coins x 10 trade sizes might be bought at spot +2%, sold back at spot -0.5% type spreads, in person (no additional postage/packaging/insurance).

Even if just 50/50 stock/gold in the way of FT All Share stock index and gold (SGLN)

https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B3X7QG63

https://www.markets.iweb-sharedealing.co.uk/etf-centre/details/IE00B4ND3602/NGL4

and as that index has data back to 1962 ...

rewards were reasonable. And where by drawing from whichever of the two is the higher valued at the time each month in order to pay off the credit card - is a form of partial rebalancing without any additional fees other than what you were paying anyway in order to sell some each month. Excepting if the drift becomes excessive, 60/40 balance for instance, where you might opt for a additional buy trade and a larger sell trade in order to rebalance the pair back to 50/50.

Penny pinching maybe - but that can add up to £500/year in savings, that's better in your pocket than anothers.

[Bratnia]

From a 'value' perspective, 50/50 FCIT/Silver seems to have it at recent valuations.

FCIT (a form of global stock fund) is at around a 10% discount to net asset value, 10% free shares sort of level https://www.trustnet.com/factsheets/T/FJ19/f

Silver at around a 85 gold/silver ratio has potential to continue to follow gold-up, perhaps drop less if gold declines (gold/silver ratio might drop to 50)

When that value might be outed ??? Maybe within a year, maybe not even after 5 years.

FCIT's discount to NAV is at around the level where below which the fund starts buying back shares to level the discount off at around that level. So could widen further but has resistance against that. Gold Silver Ratio could widen further, maybe even 100 or more. So all just a guess. If that value is outed and FCIT hits 0% discount to NAV that's paramount to a 11% benefit/gain, if GSR drops to 50 then that buys 70% more ounces of gold than silver bought before, a combined 40% portfolio gain/benefit. But do your own research and make your own decisions rather than banking on some posting you saw on a public board.

[frag]

On 01/10/2024 at 07:55, Bratnia said:

Asking those that log into investment/metals boards each day of course excludes the many others that don't. For those with established portfolios that they are comfortable with they may only check/look once or twice/year - late March i.e. at a time to rebalance their portfolio in either the new/old (or both) financial year, and in December to do their on line self assessment tax return.

Personally I'm in drawdown and in my case I'd be "checking" once/month - a week or so before the credit card bills were due to be paid in order to sell enough of stock or gold to cover that. But I also partake in boards such as this, so my "checking" is frequent.

Less frequent checking, once/year is better placed IMO, is more inclined to capture larger moves in prices before you 'rebalance' (trade). With regular checking you may be more tempted to sell (reduce) after apparent good gains, that subsequently go on to have been great gains. Much of portfolio total returns/gains arise out of one asset having spiked up a lot, profit taking some of that to realign the value back in line with other assets (uplifts the whole). With regular checking that can set your mind on a £x K of profit, I'll take it now trading too often mindset that miss out on the larger £X K swings.

I've only been doing this since the 13th September 2024.

I've really only followed the advice that was around me. This means I made investment that were considered safe in the moment. Such as all those shares we all got when Maggie sold the family jewels.  I kept mine an sold them to help with the deposits on our 1st home.

We.sold our business a.couple of years ago and raised a reasonable amount which paid off the mortgage and still left some capital over.

The clincher for me was I put some money into a cash ISA account and walk away with a very poor return.

This made me look around for something with better ROI. while looking I had my eyes opened to what inflation really ment in terms of cash in the bank, over time. This I guess like most ppl you would ask in the street did not realise the the previous years were not included in these announcements. As in each year you a little worse off.

Then still researching I came across gold and what was about to happen to the values.

And there you have it my friend a brief synopsis from 1984 to now.

If only I had known then!

So here I am with my stash of gold, that I have already made in 3 weeks than I did in a year with the bloody ISA.

I still need to build, but everthing I have read about seems to be coming true and those dammed prices have also shot through the roof.

Sometimes life is about timing, so they say. And I don't have the luxury of time as I am coming to rhe end of my working life so need to make this work.

I have to say and  credit where credit is due @BackyardBullion has been a good friend and mentor since I came on the scene and I always be greatful the guidance he has given.

And so like it used to say on my school report he has done well this term, and shows willing. Lol.

Please excuse the grammar it's been a long day and I wish you all a goodnight.

Edited October 13, 2024 by frag
Wrong person.