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Bumble

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  1. Bumble

    Glint Pay

    The administrators will have to assess what assets and liabilities the company has. If possible, they will try to find a way for the business to continue as a going concern, perhaps by finding a buyer for it. If not, the company's assets will be divided up between the various creditors. According to Glint's website, the gold is allocated to its customers, so they will not lose out, though it may take the administrators a few months to sort out. The parties who will lose out are the investors. Most recently, Sprott invested $5 million as part of the expansion of Glint to the USA.
  2. Bumble

    Glint Pay

    Glint has been taken into administration. Very few details at present. https://www.fca.org.uk/news/news-stories/information-customers-glint-pay-services-ltd
  3. According to some commentators, in a gold bull market the large miners tend to move up first, then the mid-caps, then the juniors. Most generalist investors are not interested in picking mining stocks, so once the gold sector becomes attractive to generalists, they tend to buy ETFs like GDX and GDXJ. This will make all the large and mid-caps move up together. Picking juniors is of little value to most investors unless they are bent on alpha.
  4. Gold and silver stocks are riding high right now. But HUI/gold is still very low, so there should be plenty more upward potential.
  5. High yield means companies paying a big dividend. First Majestic does not pay a dividend. You are right that many gold and silver stocks are flying at the moment.
  6. A new referendum would require a minimum of six months, so it would take too long. At the very least, there would have to be a lot of discussion over exactly what options would be on the ballot, and how should they be worded. A general election, on the other hand, can happen in six weeks.
  7. Bonds are expensive at the moment, which is to say that yields are low. Yields could go even lower: I've no doubt that some people are buying bonds in the expectation that interest rates will go negative, and so they will be able to sell the bonds at a profit. Index-linked bonds have the advantage that they will protect you from inflation, but they won't do much else. The two main risks of owning bonds are default and rising interest rates. The UK is unlikely to default on its bonds, since they are denominated in GBP and these can always be created. Interest rates are unlikely to rise, since there is too much debt and nobody could afford to service the debt with higher rates. So UK index-linked bonds are a relatively safe investment, but they won't provide much income. They are not a bad choice as a low-risk component of a diversified portfolio. Disclaimer: this is not investment advice.
  8. Money Week rate ITV a sell. Too much competition. BP and RDSB look good. The worry in the back of my mind is that cities and states in the USA will target oil companies for compensation for causing global warming. They will be looking to milk the oil sector like they did tobacco a few years back. If a recession looms, staples like ULVR might be worth considering.
  9. @goldmember I remember an interview with Peter Hug of Kitko, who is a professional trader, in which he recalled how back in 1979/80 he was trading gold for a firm in Toronto, and people would queue up in the street to buy gold coins. One day he looked out the window and saw their mailman in the queue and he turned to his assistant and said: that's the top, we should sell now. That was right on the peak in 1980. Similar things happened with Bitcoin in December 2017. I started to find articles in general interest magazines about this wonderful new craze called cryptocurrency. People on forums said they were borrowing money on their credit cards to buy Bitcoin. When things like that happen, the bubble is in and it's time to sell. You don't need to short, and you may miss the exact top, but there's no need to be greedy, just be long for the main part of the run-up.
  10. If you bought gold coins as a kind of insurance against governments screwing everything up, then you did well and you should continue to hold them. Selling them would be like selling your seat on the lifeboat of the Titanic. On the other hand, if you bought some gold assets with a view to making some profit, or at least preserving your worth, then you are in the tough position of having to judge whether a top has been reached. It is the same decision you face with any investment that goes up in value: do you let it run because it's doing well, or take profit? It is never bad to take some profit, but you may be able to do better if you can spot the signs of a bubble forming. When the proverbial shoe-shine boy tells you he is buying gold, or you see articles in non-financial magazines about gold, then it is time to get out.
  11. I agree with Vand - it is much too early to think about selling gold to buy stocks. Gold could run to $2000 over the next couple of years, and the Dow could drop 20%. The only thing that will hold the stock markets up is loose monetary and fiscal policy. Trump keeps pointing to the performance of the stock market as an indicator of his success, so he needs it to stay up to get re-elected. Further easing would be bullish for gold. The time to sell out of gold is when the manic bubble curve starts to appear. We had one of these in 2011-12, but no sign of another yet.
  12. As far as your Britannias are concerned, these are currency in the UK, and as such are not subject to capital gains tax (CGT). Sovereigns, likewise. You made a good choice to buy Britannias: if you had bought krugs or gold eagles, or something else, then selling them would create a chargeable gain. HMRC treats cryptos as financial assets, not as currency. For the vast majority of people, selling them would be treated as disposal of a chargeable asset, and you would be liable to pay CGT. The only exception would be if you are a professional trader in cryptos, in which case gains could be assessed as income. The odd thing about the taxation of cryptos is that you create a chargeable disposal event every time you spend crypto. If you buy a cup of coffee with BTC then strictly speaking you should use the BTC/GBP rate at the time of your purchase to calculate how many GBP you spent, and then make a record of how much gain you made. In practice, of course, this makes the reporting of crypto transactions infeasibly complex. Tax authorities around the world have not yet come up with a solution for this.
  13. https://www.dailymail.co.uk/news/article-7288687/Massive-2kg-gold-nugget-worth-hundreds-thousands-dollars-discovered-lucky-digger.html
  14. Divi stocks are nice, but you still have to watch out. Take a look at Saga (SAGA.L) for a horror story. Personally, I don't care for the finance sector.