I bought a lot load of pre decimal and round 50s to replace it. I just don't see any point paying 10% premium on 1oz coins where I can pick up pre decimal for 10% below spot. That way I can get an extra 20% in silver
Yes it’s tough. Chart analysis suggests a move to as high as 112. “Tokyo” suggested this and I can see some reality based on trends. That will hurt.
Lesson from the last bull - if you are planning an exit do this now rather than fumbling and scrambling for ounces on the way up. You will surely be too emotional to sell when needed. Then again it’s always ‘different this time’
Trick is to buy when it’s on the nose & the last thing anyone would do, when all hope is lost. Right now it is a questionable time to invest. I’ve pretty much bought up all the way from 2015 right at the AUD low up to now, but now looks like a risky time for a new entrant. It may be better to sit out, watch the volatility coming and pick an entry point if you have to. Many of us remember 2008 well. The only place to be in that crisis was in cash, in short term T bills in the US or if you were game, going short/put options. Silver fell down to about 14 AUD. Half where it is now and a third of where it ended up in 2011. With such swings, you could be a winner or loser. This time, digital tokens offer an alternative in a crisis. It should be interesting. For the metals, what happened last time is useful to recap. PMs fell with equities in 2007, briefly went up and fell in 2008, in contrast to ALL the main gold and silver spruikers, many of whom are still talking as though they haven’t learned a thing from their false prophesy. Gold fell hard in the early part of the GFC, then right at the time of the emergency Fed meeting late 2018 it spiked 40% in AUD at COB in one day, only for all that gain to go the next, ending up in the red. Did KWN say sell? (Did it ever?) The lesson is the market is ruthless and does not care about you! Sit out the market’s tendency to overcorrect, for everyone to lose their minds, then buy low and get out when you’re in a good profit. Ignore all the noise, the shills and naysayers. None of them actually carry any responsibility for the outcome of decisions you make and therefore they should be afforded zero influence.
I am mainly gold with a ratio of 1:10 which is sorta high. I changed some of my old into silver at 88:1 91:1
You will only ever effectively make money or GSR swap via paper metal markets. Physical metals are only good for wealth preservation. If you want to gamble you might as well play with stocks. For physical I am HEAVY gold fractionals to the point where I often have less than 10oz of silver.
If you need fiat cash you can sell some gold now at $2500 AUD spot but silver is on the slide. Down $2.00 an ounce in one week. (Currently 26.40 AUD spot). Time to sit on the silver side line. Covid-19 has shaken the markets. South Korea and Chinese electronics and solar manufacturing disruptions means less silver demand. Much as we know silver (like gold) is money the market treats silver as a commodity.
I bought more silver but I mostly below spot silver such as pre decimal. Didn't use much of it on gold. Also my mate got some silver when I told him to get gold...... Why doesn't anyone around me listen to me
I talk to my parents about moving their super into an SMSF for gold once a week. People are just averse to the idea of metals. It's the culture that has been produced with modern economics
