1. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Last edited: Jun 3, 2019
  2. ozcopper

    ozcopper Administrator Staff Member

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    It is not a record, but it has been a long time....

    [​IMG]
     
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  3. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Price is up in USD terms only as AUD/USD exchange rate remains in the mid 0.69's......I wonder how much the likely RBA interest rate cut has been factored into the AUD exchange rate as yet....or will the AUD price for gold jump tomorrow?

    AUD Gold price from Kitco just now.

    upload_2019-6-3_18-24-54.png
     
  4. ozcopper

    ozcopper Administrator Staff Member

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    The highest I can find is 126.46 in 1980.
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The Dow is really a scam now. A lot of blue chips have fallen 20-30% but the index has hardly moved. Not that there aren't worst scams, e.g. cyptos.

    Gold, silver or cash is better.
     
  6. alor

    alor Well-Known Member Silver Stacker

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  7. maverick

    maverick Active Member Silver Stacker

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    GSR is increasing little by little every week!
     
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  8. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    92 not out now. Come on the ton so gold can salute the crowd with it's bat.
    upload_2019-6-25_19-1-33.jpeg
     
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  9. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    So I switched 25% of my unallocated gold to silver when GSR hit 65, 25% when GSR hit 70, 25% when GSR hit 75 and the last of my gold when GSR hit 80.

    At the time I set this system up, the GSR as holding fairly steady at 45 to 55 so I never really expected it to actually get to 80.

    The idea is that if GSR drops back to the 50s and below, I will start swapping my silver for gold. It doesn't look like this will happen but it also didn't look like it was ever going to get to 65 either.

    So now I have a dilemma, I have a ton of unallocated silver in my SMSF which is basically there for my GSR swaps. Personally I have plenty of junk silver, silver rounds, silver bars and silver coins, I met my silver stacking goals a while back now and I am no longer buying anything but junk silver.

    I have a few gold coins, not a collection and barely enough to justify calling it a stack, but they are gold, and they are my only gold hoarding, if I swap them out into this new era of high GSR I will get a lot more silver, which I already have, and deplete my tiny remaining amount of gold.

    I am very tempted to sell my gold and get lots more silver, but that would be selling something that is starting to perform very well, to buy something that is performing very poorly (and has been performing worse and worse over the past couple of years)

    Do I need even more poorly performing metals in the hopes that they will recover in a few years? At this GSR it certainly feels like one of those "Once in a lifetime, kick-yourself-if-you-miss-it, fortune-favours-the-bold situations)
    Do I wait until GSR goes even higher (I have done some decent swaps so holding on for an even higher GSR would not hurt, I would hate to swap now and it continues to climb)
    Do I keep hold of my meagre supply of gold and just pin my hopes on that increasing its value? If I cash out of gold now, I might not be able to afford any more if the prices rise and I would be drawing a line under any future profits if gold continues its rise.

    Anyway, not looking for advice, just trying to put all my thoughts down on paper so I can come back in a few years and shake my head!
     
  10. SilverDJ

    SilverDJ Well-Known Member

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    So you went all-in on silver and missed the recent gold bull market. Ok, it happens, hopefully there is a lesson in that somehow.

    So keep following a plan that hasn't worked, why?
    Why not hedge your bet a bit.

    As I said in another thread:
    "Why should silver suddenly "blast off"? Industrial use isn't increasing, coinage use and jewelry isn't suddenly increasing, and gold is as it's always been the dominate "safe haven" to stash your wealth for private individuals, corporate, and countries, and that's very high profile at the moment. No one is looking at silver as a safe haven."

    So for you GSR to come back down drastically, one of two things has to happen:
    1) Silver has to go to the moon for some reason, at a much faster rate than gold is currently doing.
    or
    2) Gold has to plummet, with or without silver increasing.

    I just don't see either of these two things happening any time soon. So I would most definitely wait until silver is showing a bull market again before jumping back into silver. Even if silver jumps many dollars to show that bull market, if you truly believe in following the GSR, then it that won't make a difference in the long term buying in later than buying in now.
     
    Last edited: Jun 26, 2019
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  11. alor

    alor Well-Known Member Silver Stacker

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    please be comfortable with your own positions
     
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  12. SilverDJ

    SilverDJ Well-Known Member

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    Maybe it'll average out at 99.94?
     
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  13. SilverDJ

    SilverDJ Well-Known Member

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    With golds current bull run, absolutely no reason why it won't crack 100
    Currently at 92.3

    [​IMG][​IMG][​IMG]
     
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  14. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    No, I went all in on gold about 10 years back, and I have slowly been converting it into Silver as the GSR has been getting higher.

    So far the plan is working as it should be, GSR shifts one way, convert metals, GSR shifts the other way, convert them back, repeat as often as the opportunity allows, increasing metal volume each time.

    This is just one small part of a retirement plan, in among personal metals, properties and the SMSF. As a percentage of my investments it is probably one of the smallest areas, I hesitate to call it "play money" but it is in my SMSF so I can't get to it and I am fairly sure that the government is thinking up new ways of spending it for me, I figured if someone was going to blow all my money, it might as well be me and I might as well have fun doing it.

    I got into silver as a hedge against inflation, not as any sort of safe haven.

    The GSR took a while to go from 50 up to nearly 100, but it has done so, it has already drastically changed in the years I have been looking at it, I am not in a hurry, it will be decades before I can take my money out of the SMSF anyway.

    I don't recall anyone predicting this current GSR change, so the fact that no one is predicting it to change back is not really a concern, there are many variables involved so either of your two scenarios could take place for any number of reasons.

    Not sure I fully understand the last bit "So I would most definitely wait until silver is showing a bull market again before jumping back into silver. Even if silver jumps many dollars to show that bull market, if you truly believe in following the GSR, then it that won't make a difference in the long term buying in later than buying in now." I already have enough silver so I won't be jumping back in, just trying to work out whether I want to swap my remaining stack of gold while the GSR is nice and high.
     
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  15. JulieW

    JulieW Well-Known Member Silver Stacker

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    This might be pertinent.

    [​IMG]

    (Kitco News) - Gold’s rally to six-year highs has left silver behind, with fund managers repositioning their exposure to gold amid dovish global monetary policies, trade concerns, and rising geopolitical tensions, according to BMO Capital Markets.

    “The gold:silver ratio no longer has much relevance. With gold prices running hard, we have received many questions as to what this means for silver. In our view, while gold continues to receive ‘annuity’ demand from macro asset allocation trends, silver does not, and until this changes we may be looking at a growing disparity over time,” said Colin Hamilton, BMO Capital Markets managing director of commodities research.

    Other assets stealing attention away from silver are cryptocurrencies, added Hamilton, pointing to the traditional retail investors as being “somewhat distracted” by the new digital assets out there.

    Gold, in the meantime, has likely seen the peak of its rally as most of the changes in risk sentiment have been priced in already, added Hamilton.​
     
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  16. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Now wouldn't that be a kawinkydink. Would have to petition Perth Mint to strike a Sir Don Bradman 1oz 0.9994 gold coin to commemorate.
     
  17. alor

    alor Well-Known Member Silver Stacker

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  18. alor

    alor Well-Known Member Silver Stacker

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    93

    to

    88
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    So 93 was the peak??
     
  20. alor

    alor Well-Known Member Silver Stacker

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    OZ copper already posted past peak 126.46 in 1980

    if it can fall faster to below 80, then 93 is a temporary peak

    it not easy to swap gold for silver, people will sell gold for spot and buy their silver
    but we never know, different places have different ways of doing things :)

    the questions sounds a bit like, trying to sell silver at 50, past peak...but many could not let go such big quantity of silver at the top price, many sold after the peak, below 40 or even 30 etc
     

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