Gold Prices Rally on Safe Haven Buying. gold hit a new record of £767

DiggerUK

Asheron wrote: »

I am Mr English and Digger ?

Don't know about Mr.English, but that Diggers just bonkers, put him on your ignore list Ash.

crazygaijin

JonnyBravo wrote: »

First he lives in Wales..... Seems he's not sure how to run his BTL though.... perhaps he hasn't got an accountant....


But hang on, now he lives in Japan?? Well perhaps he lives in both he is a property magnate after all.



Oh.... £200/wk.... not such a magnate after all.... nice little pension for him though.... what with him being 65 and the wife 60



Still got lead in the pencil and a remarkably fertile wife too. Not bad for 65 and 60.



But he does have an accountant? Surely he should be able to advise him on allowances for BTL? If he really has one that is?

Then he's recently trumped it all with the disclosure that he's lost a shed load of cash by buying silver off e-bay which he was held to ransom over....
http://forums.moneysavingexpert.com/...=#post30328737


Like I said.... my favourite poster.
Long live crazygaijin.... and his "mates"

Johnybravo I thanked your post for taking such an interest in me

I think this thread is for people interested in gold and silver, but if you are so interested in me all of a sudden I am happy to talk about myself.

Yes both my wife and I are retired and yes we are bringing up a child. Its a long story which I wont go into here.

I dont have an accountant, and yes my profit from my rental properties is very small because most of it is interest to the bank. We love Japan and go there often but live here in Wales.

Yes I got stung buying that silver on ebay. But Im very grateful for the advice I have got from this website.

I am a very keen silver investor. I think silver is way undervalued because the price has been pushed down.

I do believe silver will go back to its long term value in my lifetime.

Harry_Powell

RDB wrote: »

You know as well as I do if you sell to a dealer they will only give you a lot less than its worth.

Its very easy to sell bullion.

A good example is selling something like a car, boat or caravan. Yes you could take it to a dealer and they will give you something for it.

But you know they will give you a lot less than its worth.

Why not just advertise it and sell it yourself.

Let's hope then that your internet (ebay?) sales can keep up with the fluctuations of the market. If the stock market crashes my stop losses are set to sell at a 10% loss, thus reducing my losses to 10% even if the market drops 30%. Incidently if the market does drop 30%, I can then buy back in. If the silver market starts to crash, expect a glut of panic selling on ebay and expect to see your 'profits' vanish. The market could have lost 20% by the time you sell and your buyers might be re-negotiating all the way down. Certainly, as crazy gaijin has realised, wealth is more important than ebay feedback and no one is going to pay £30 an ounce if the market is set to £20 an ounce by the time the ebay auction ends...

Indeed no one is going to be buying in a rapidly falling market until they're sure the bottom has been reached, so you might find that no one is interested in your horde right at the time you really need them to be.

I've seen lots of people like you who starts to invest in a market and has only seen it move upwards. They think it's easy money and that it'll never change. Just look at what has happened to the housing and stock markets to see what can happen to any investment. Indeed, look at historical graphs for gold and silver to see how fast those markets move.

This is the madness you're trying to push onto people - a way to lose a serious amount of cash in a seriously fast amount of time. If you push your trade on the investments boards then you wont hear a peep from me because people frequenting those boards at least have an inkling of the risks. I do object you pushing your spiv trade on non-investment boards such as this one, just as much as I'd object to loan sharks plying their trade on the DFW board.

The sooner martin PPRs you and your multi-usernames, the better.

RDB

Harry if you are right and silver drops in price significantly I will be delighted because I will buy even more.

However unlike stocks I doubt silver will half in price to the price I bought it at. It cant with the supply demand situation on Earth.

More silver is consumed every year than is mined. Now the worldwide stockpiles are almost nonexistant. It costs more to mine silver than they sell it for because the price has been pushed so low.

If you want to debate any of these facts, then that would be interesting.

mr_fishbulb

RDB wrote: »

More silver is consumed every year than is mined. Now the worldwide stockpiles are almost nonexistant. It costs more to mine silver than they sell it for because the price has been pushed so low.

That doesn't make sense. How can we be exhausting silver supplies, yet the price is being pushed down?

phil_b_2

mr_fishbulb wrote: »

That doesn't make sense. How can we be exhausting silver supplies, yet the price is being pushed down?

Highly conspiracy-theory esque if you ask me. Precious metal nuts are full of those.

mr_fishbulb

phil_b wrote: »

Precious metal nuts

I was one of those Gold and silver EFTs were my first investments - sold them too early though.

Don't rate them as much of an investment now. Currency risk is there, and you don't get any dividends/coupon payments holding PMs.

RDB

mr_fishbulb wrote: »

That doesn't make sense. How can we be exhausting silver supplies, yet the price is being pushed down?

Very good question.

More people should be asking questions like this.

It cant go on, silver shortages everywhere. All the main dealers cant get hold of much physical silver. They all have waiting lists. You try putting in a big order and they tell you to wait 6 to 8 weeks. Even then they just cant get hold of the silver.

All these shortages and guess what the spot price is going DOWN! Thats why there is a huge disconnect between the spot price (paper silver) and the real thing.

The price of paper silver is going down because there is more and more paper silver promises being created.

The price of real silver is going up because the supply is getting very short and demand is outstripping supply.

Gift horse and all that.

chucky

RDB wrote: »

The price of real silver is going up because the supply is getting very short and demand is outstripping supply.

haven't you got a youtube video that proves this?

i'm not believing it until i watch it!!!

RDB

I know your being childish Chuck.

But Im not going to rise to it, well ok here is one example.

http://www.youtube.com/watch?v=8RR_IvUr1QE&playnext_from=TL&videos=s_cZFH47UKw

But seriously try yourself to put in an order for about 40kg or something.

Only 6 months ago when the price was less than 10GBP per oz I was able to order 40kg at a time no problem.

I want to get a big order in during this dip, before the price goes back up. But no one has the silver.

If you can find a dealer who really has the bullion available, please let me know?

I have never had any problems ordering off Ebay. The only thing is prices are double what I used to be paying. They will be doubling many times in the future.