Hi all, Seeing few threads being posted regarding 'Buy silver or gold?", I'm more intested into who is only buying gold (have been and now) and why? My PM stack is pretty small compare to most forum members here, I have more silver than gold but I've always wanted more gold. Now, I am mainly buying gold basically just want to increase my ounces in gold. Also, I have more faith in gold since I've heard stories from friends during period of crisis in Vietnam/China in the good old days, none of them mentioned about silver but gold, I've spoken to some of my Indian colleagues, all of them just said they would only buy gold too. So I'm interested in hearing about your view
Gold has more value culturally for some people, here we tend to go more for what is the best value based on the Gold Silver Ratio. Pick a number and buy gold below that number and silver above it. for me if the ratio 1:55 higher than 55 I buy silver, less than 55 I buy gold, at the moment it is 60 ish, which means that one ounce of gold will buy you 60oz silver, so it looks like silver is the beter value. On the other hand Gold is what the central banks are buying, not silver. I have just been buying silver recently, with the hope of swapping it to gold at a later date when the ratios favour gold being cheaper than silver.
:lol: As I've posted before, that's one of the key reasons for WHY I buy gold. Previous dips I took the opportunity to increase my gold share but this time I'm back into silver since that is now less in my stack. Unsure what I'll be buying as this whole situation pans out over the next few weeks.
Apart from the financial aspects of both metals, I consider storage and portability - that's a big plus for gold. You can easily have $10k worth of gold in your pocket, but try that with silver :/ Gold tends to be less volatile (although recent swings prove not) and is not treated as a commodity.
I've stacked primarily gold for the past 4 years or so based around a shtf scenario, high inflation etc. It's only really since the start of this year that I've started to seriously stack silver. I don't intend to sell any of my gold despite the recent drop to fund my silver purchases.
Buying with an eye to the gold silver Ratio seems a good idea. I buy one or the other (or Platinum) on mere whim. There are arguments favouring both metals. If you figure you don't know (as I don't) then this is yet another case where diversification looks the way to go. So if you have more silver than gold (in $ terms) that would suggest gold is the one to buy in this opportunity period. As mentioned on this thread, gold is the one to easily store, secrete, and smuggle, so that would explain why it was the metal of choice in Vietnam, People don't entirely forget. Jews also escaped Nazis using gold not silver.
Gold in time of crisis ( like now ) Gold should strengthen further against the silver price short term
Gold is definitely more popular with my Asian customers. Silver is still not on their radar unless they are members of this forum.
It'd also be a lot easier to swallow $10K worth of gold... and I'd also think 'recovering' it afterwards too And assuming you have to jump ship in an illegal boarder crossing (to evade the customs NAZI's when the SHTF) it'd be a lot easier to swim with your wealth in gold form rather than silver...or paper...or a in suitcase.
Not quite swallow, but my friend told me that his mum stuffed his mouth full with gold when they were trying to smuggle out of Vietnam by boat, he was only few years old then! It sounds funny but indeed it was a really tough time for them!
These Smuggler's bars should sell like hotcakes in Vietnam. Don't know what possessed me to sell them to Captain Kookaburra
