Gold and silver. Discuss

Awesome week for silver! Would you guys eve go all in PMs? I don't have much capital at all. And only hold some AAPL shares. So, I guess what Im asking is, would it be very unwise to put that money into silver, even at 40/oz?

Originally Posted by mikeman

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Awesome week for silver! Would you guys eve go all in PMs? I don't have much capital at all. And only hold some AAPL shares. So, I guess what Im asking is, would it be very unwise to put that money into silver, even at 40/oz?
Remember to not keep all your eggs in one basket. With that said it all depends on how old you are, risk tolerance and so on. I've been known to be in PMs only several times over 30 some odd years. Now that I'm older I'm very much diversified across stocks, PMs and real estate. Currently I'm heavily buying PMs but my DCA is so low I can weather out a nearly complete collapse of the PM market and still show a healthy profit. PMs are traditionally a medium to long term investment. Always remember that and you'll be OK.

someone who manages a precious-metals trading company in dubai told me that 50% of silver gets expended on industrial uses, as opposed to 2-3% of gold... is this true?

Originally Posted by oman

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someone who manages a precious-metals trading company in dubai told me that 50% of silver gets expended on industrial uses, as opposed to 2-3% of gold... is this true?
Depending on what you call industrial uses 50% would be on the low side. Industrial gold use accounts for around 10 percent of current gold production.

Awesome week for silver! Would you guys eve go all in PMs? I don't have much capital at all. And only hold some AAPL shares. So, I guess what Im asking is, would it be very unwise to put that money into silver, even at 40/oz?

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I'd like to go all in, but don't have the guts lol. I've been waiting for a pullback that never came so I finally just went in halfsies on that monster box at 39 dollars and said hell with it. Glad I did.

I have a considerable amount of money in silver now (bullion).

But I have an equal amount in cash sitting in my core acct ready to go long on ZSL at a moment's notice should silver turn against me.

http://www.bloomberg.com/news/2011-0...tml?cmpid=yhoo

A trader's almost $1 million bet that an exchange-traded fund tracking silver will plunge 37 percent by July was today's biggest single options trade on U.S. exchanges as futures on the metal reached a 31-year high.

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Bahahah! Even with this and all the doom and gloom "top" and "bubble" nonsense I've been reading about metals the last few days, they were unable to get it down past Friday's close. Amazing!

For some unknown reason I got a tip or read something about Gold in the 3rd quarter of 2007 and moved 25% of my money into a PM fund. Well, my ROI has been ~40% annually since. Every time I see Gold drop and think about getting out, it sets a new record the following week. I don't know if I would get in now as I keep reading conflicting reports on the future. I guess I was just lucky for a change to have a made a good choice.

You'll always be reading conflicting reports. It's enough to drive someone nuts. Just look what happened to me. Before I came here I used to troll yahoo finance stock boards. And I never even got paid for my bashing Now, I'm a completely unhinged wackjob

The Sprott physical gold ETF is barely above net asset value (PHYS) and worth a look. I don't hold any of it, but I do have a nice position in the Sprott physical silver fund (PSLV) even though it's at a large premium to NAV. Both are much more trustable than GLD or SLV.

The advantages to the Sprott ETF's are that you get the lower long-term capital gains rate (15%) if you hold it for a year. The disadvantage is that if the it hits the fan, you don't have anything in your pocket to hightail it to Canada.

Uninterested in ETFs. I'll only consider the ultra-short ZSL if all this bullion I ordered starts dropping.

Happy to say the monster box I went in halfsies on at 39/oz should arrive tomorrow!

Hoping to break 42/oz in Hong Kong tonight!

Also, been researching the Hunt brothers a lot lately, honestly, the more I read about them, the more I think they weren't such bad guys.

u guys know any other forums to discuss PMs? im pissed that my silver miners are getting raped, looking for insight

Sorry to hear about your miners. Here's why they went down: http://www.zerohedge.com/article/wil...nt-evo-morales A good site is: http://tfmetalsreport.blogspot.com/ I once held Silver Wheaton, but sold it eons (and many profits) ago at the lowly price of $20. I was up 110%. I eventually got back into PSLV and am up 30% on it. It's a minor part of my portfolio though.

Yeah the Bolivian news is probably killing the miners right now. If you are holding PAAS or CDE, may want to reconsider those.

Great news for me though as a bullion holder. PAAS and CDE combined produce about 40M oz/year of silver.

My .5 monster box came in. I was giddy as a school girl last night rolling around in a bed full of 250 Silver Eagles.

I want half a box of Maples now

Also found a new facebook buddy I've been chatting with a little, Max Keiser of RT. Cool guy. Ordered 3 one oz rounds with his image for the hell of it. For whatever reason, they are selling for like 2x spot value on ebay.

Nice end to the week! Silver hit 43.07/oz.
Javyn, congrats on your purchase. Getting silver in the mail NEVER gets old!

Originally Posted by mikeman

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Nice end to the week! Silver hit 43.07/oz.
Javyn, congrats on your purchase. Getting silver in the mail NEVER gets old!

I missed the run-up in silver. Been thinking about it since it was $33 not too long ago. Hoping for a pullback to the mid 30s. I'm not sure its a good buy at these levels.