2012 and onwards Predictions

Road_Hog

Going4TheDream wrote: »

And Saddam Hussein wanted to trade it in Euros

From memory he did actually switch to Euros for a short while. Iran talks about switching currency/payment, so expect war on terror/Arab Spring sometime soon.

Flight2quality

Road_Hog wrote: »

So you're jumping into the bull market and ignoring the bear market, buying in at the top.

Just because gold has been in a bull market for 10 yrs does not mean we are near the top.

Bull markets such as this one have 3 stages. We are only just into stage 2, this has the longest period of time before stage 3 which is the final blow off top.

I was jumping into gold and silver at half today's prices. I went all in when silver was $14 per ounce. Even though its more than double I still buy every month with 10-15% of my income. I try and buy more in the dips but will keep buying a little more every month even at double today's price.

Cleaver

Flight2quality wrote: »

I went all in when silver was $14 per ounce. Even though its more than double I still buy every month with 10-15% of my income. I try and buy more in the dips but will keep buying a little more every month even at double today's price.

Haven't we established before that your 'all in' was around £1,000? You speak as if you have a massive investment portfolio when in reality we're talking the level of savings a 17 year old with a semi-decent saving mentality might have.

Anyway, as we've discussed before that you're going for an all or nothing approach. Similar to someone who becomes obsessed with property, or a certain share. Might work, might not, bit of a gamble.

Road_Hog

Flight2quality wrote: »

I was jumping into gold and silver at half today's prices. I went all in when silver was $14 per ounce.

Are you buying real silver or paper silver?

Cleaver

Road_Hog wrote: »

Are buying real silver or paper silver?

You can't ask that question to a silver cult member!!! How dare you!!! Paper silver is a form of the devil, it isn't real money and is being manipulated by lizards. Or something. Real money is real silver, in the form of coins or bars. Then you can take photographs of it and post them on to odd forums and Facebook.

Flight2quality

Road_Hog wrote: »

Are you buying real silver or paper silver?

Ignoring the childish post above yes I always choose to pay a little extra to start with to take delivery of real bullion. Then there are no ongoing costs that are associated with paper promises of silver investments.

I think the top and time to sell is years away yet, I do not want to be paying storage fee's all those years. Plus yes I think its far safer to to take delivery yourself, then gold and silver are out of the system that is in crisis.

Cleaver

Flight2quality wrote: »

I do not want to be paying storage fee's all those years.

How much does it cost to store a few grands worth of coins? Could keep them in a sock under your bed couldn't you?

chucknorris

Cleaver wrote: »

How much does it cost to store a few grands worth of coins? Could keep them in a sock under your bed couldn't you?

It's more complicated than that cleaver, he needs refrigerated storage for the silver and gold coins otherwise the chocolate centres will melt.

Get-real-buy-real

Road_Hog wrote: »

Are you buying real silver or paper silver?

Some paper silver investments are more trustworthy that others. Bullionvault.com for example surely does have all the silver they claim to have.

I would not trust SLV ETF to have all the silver they claim to store for investors. But other forms of paper silver like Perth Mint and other allocated silver certificates you get the actual serial numbers of your bullion bars. I know this is not proof alone that the silver exists but better than any old silver certificate.

Road_Hog

Flight2quality wrote: »

Ignoring the childish post above yes I always choose to pay a little extra to start with to take delivery of real bullion. Then there are no ongoing costs that are associated with paper promises of silver investments.

Since VAT is charged on silver even for investment purposes (unlike gold), unless you are a business, how do you make a profit when you have to pay VAT on your purchase price but can't reclaim it on your selling price?