- Jul 29, 2014
- 22,201
- 23,461
DOW down 400 points pre market gold up again as well as silver.....how long before the dollar dives and sends the metals skyrocketing?
In my humble and mostly loathed opinion(on here at least) I am not selling any gold or silver, paper or physical....for a while at least and never my physical unless I swap some gold for silver when the ratios change which is very likely. Remember Silver usually skyrockets after gold has had it's run up. Meanwhile BOFA is about to get caught with their pants down big time(see what just happened to nickel)....it will be glorious but get the f vck out of your paper stocks the day they start to turn. I'm thinking $80-200 will be the range it goes to this time.Gold is at $2050 today. Silver is up too, almost $27. I have some SLV, not sure if I should take the profit or hold on. Not many sectors making money right now.
Anyone use a metals depository to hold any of your metals? I am thinking of putting some of my future metals purchases into one for quicker liquidity once we see a huge spike in most likely silver. I love silver but it's biggest downfall is it's weight and bulkiness particularly when exchanging or selling back. Of course I keep enough on hand for "bugging out" and NWO sh!t" ....
Another advantage of purchasing for vault storage is much lower/no premiums. Lately the premiums on silver are getting upwards of 20% of spot price and Eagles are a no go at $11-12 premium per coin. Even mint bars are $5 per 2.5oz bars.
The vault bars can be purchased in as little as 1/10 oz in gold and I think 1oz in silver for someone on a budget. Storage fees are based on amount of holdings and the annual storage fees seem pretty reasonable.
You can also sell or exchange without the hassle or worry of shipping(I'm always wound tight as a spring waiting on my deliveries). Anyone have any good or bad experiences?
I have PM's in my possession....Remind me why you’re thinking having PMs that are not in your possession is a good idea? For investment purposes? What do you anticipate happening that will make them a good investment?
I have PM's in my possession....
The reason for having them at a depository that deals in metals is liquidity, exchangeability and security(insured by Lloyds)without the hassle of shipping or lugging around...As I mentioned I have adequate supplies of PM's at arms length or very close but with a massive Bull Run in commodites that is currently happening and the highest amount of true inflation in history about to happen it would be enice to rapidly sell or perhaps exchange for another metal(metals don't always run at the same time) or even take delivery of it if I so desired....trying doing that with shares of GLD or other paper gold/silver.....not going to happen.
I'm right there with ya....something about being able to see, touch and feel what I paid for makes me reconsider.So for short term investment and arbitrage, right? I guess a depository is as good as anything else. I’m still trying to decide what an “adequate supply of PMs at arm’s length” is. When I think I’m there, a nagging voice tells me to “buy more”.
Well I certainly don't put all of my eggs in that basket but since QE started in 2000-2001ish gold is up over 500%. It is also only down about 12% on the year so compared to other assets it has held up good especially in a rising interest rate and high DXY enviro....the truth is gold makes fast burst upward once the interest pendulum swings back to lower rates and then goes sideways or slightly down over longer periods.Even when the talk was nothing but inflation, gold and silver barely moved.