Anyone else selling here @ £1150?

[Guest]

I have slowly been offloading phys Gold and changing into silver over the last couple months. 1st batch sold at £1040, 2nd at £1090. I have just offloaded more this morning @ £1150, but may just sit on my hands with cash from this last sale to see what happens over the next few months.

A few months ago I held 70% Gold, 30% Silver, but now I hold approx 70% Silver, 30% Gold.

I believe this Gold move is extremely over extended and due a correction, however I am also aware the markets can behave irrationally longer than most people can stay solvent, as they say.

Anyone else offloaded recently, and your reasons for doing so?

EDIT: 07/08/19

See later posts on this page, have sold all remaining physical gold @ £1225. 

[Kookaburracollector]

2 hours ago, Bullionbill01 said:

If I were to do that it would be in ETF form only - not physical.

 

Physical silver in UK is a mugs game imo

I cashed in a fair lump of gold last month to top up various tax efficient vehicles with gold / silver mining stocks (see screenshot below from 2 days ago- a rare sight - the % is daily move). Risky for the amateur, so wouldn’t advise it unless you really know what yours doing, but the rewards are great if you get it right.

As a safer bet, if you want a general fund for the miners, I have been very pleased with Investec Global gold....but of course DYOR.

 

[Guest]

37 minutes ago, Bullionbill01 said:

If I were to do that it would be in ETF form only - not physical.

 

Physical silver in UK is a mugs game imo

Fair enough. Phys silver in the Uk is challenging if just buying standard bullion and bars, however the 10oz Lions from a couple of years ago (I offloaded some on the forum, kept the rest and added a few more here and there), have increased over 75%, not too shabby I suppose. I have been picking up last year's 10oz Valiant's and a few from this year, they could have legs...or maybe not. We will have to see.

I am also keeping a close eye on this company: https://brilliantlightpower.com/

Seems Berkshire Hathaway "may" have an interest in it, but you never know, could be a flop, or it could be revolutionary for silver.

 

13 minutes ago, Kookaburracollector said:

I cashed in a fair lump of gold last month to top up various tax efficient vehicles with gold / silver mining stocks (see screenshot below from 2 days ago- a rare sight - the % is daily move). Risky for the amateur, so wouldn’t advise it unless you really know what yours doing, but the rewards are great if you get it right.

As a safer bet, if you want a general fund for the miners, I have been very pleased with Investec Global gold....but of course DYOR.

 

 

 

 

 

 

 

 

Good timing, as you say miners are risky, but great returns if timed correctly. 

[Martlet]

6 hours ago, RichRock said:

I am also keeping a close eye on this company: https://brilliantlightpower.com/

Seems Berkshire Hathaway "may" have an interest in it, but you never know, could be a flop, or it could be revolutionary for silver.

That would be extremely unlikely given Buffett's avoidance of new tech, or even established. 

[dicker]

Won’t sell out of physical ever - but have been buying Aussie mining companies and related companies over the last 9-12 months

[Abyss]

Gold rises $100 in single day either one of three things happening, war broken out, major loss in confidence financial system, entering hyperinflation. I won't sell out of physical gold but I will sell Gold appreciated premiums Queens Beasts 1 oz buy more oz standard Britannia at some point in the future. Not selling yet I still think the current bull run technically has more steam ahead and still premium appreciation QB left.

[Guest]

Current price £1210/oz.

Sent all remaining physical Gold off this PM, will see what price is tomorrow when processed/paid. Will sit on hands and see where we go from here. One of the hardest things has been to stick to my plan of where to sell, my levels were determined many moons ago and alas, this is my final level. I offloaded at £1040, £1090, £1150 and now above £1200 @ £1210 (depending on tomorrow morning's gold fix).

If price drops a few hundred I'll look at buying back in again.

USD Gold price currently about to touch the 50% Fib retracement of the 2011 high > 2015 low. 

 

[goluckystayhappy]

Agreed, probably the worst time for UK holders to be selling, unless the cash is needed for something.

I wish Platinum would see a bit more life in the price.

[Frenchie]

If Gold rise, this is because there is a HUGE DEMAND that even market manipulation cannot contain anymore , that's simple as it is antd that's a fact. We got used to have gold price compressed in a range of 200/300$ for more than 6 years, so our psychologic marks stay within this range and we cannot understand/accept that it could be a new paradigm coming. We think it overvalued but the market does not believe it anymore. There will be surely a retracement, but I don't count on trying to speculate about prices. The train has leaved the platform and I prefer to be in it than out

I keep all my gold  and would take any lower prices to add to my existing stack

[Auricsstash]

I can understand the desire to sell out and I don’t think it’s a bad move. As a £ denominated investor Brexit worries me as I’m not so sure Boris will be able to leave and if the remain dominated parliament decides to cancel it the price of gold will come down in £s.

I did consider selling some but I can’t find anything else to invest in at this time as I genuinely feel the markets for housing stocks are going to go down. I also can’t invest in metal miners as corporate debt is my other worry. It only takes one of these large miners to have a huge debt problem and that could easily wipe out any profits.

[5huggy]

@RichRock its nice to see we "BOTH" have the top performer SIL ive banked some awesome profits by , in effect, buying for free, a couple of other miners that are "in the money" buy a nice margin

Personally - trade the paper miners - take profits and buy physical - STORES THAT VALUE/GAIN 

[Guest]

17 hours ago, RichRock said:

Current price £1210/oz.

Sent all remaining physical Gold off this PM, will see what price is tomorrow when processed/paid. Will sit on hands and see where we go from here. One of the hardest things has been to stick to my plan of where to sell, my levels were determined many moons ago and alas, this is my final level. I offloaded at £1040, £1090, £1150 and now above £1200 @ £1210 (depending on tomorrow morning's gold fix).

If price drops a few hundred I'll look at buying back in again.

USD Gold price currently about to touch the 50% Fib retracement of the 2011 high > 2015 low. 

 

This morning's fix and payment is £1225.82/oz. Current price £1224.98.

[Michal]

I think it will be worth waiting after financial crisis dust fell down and then decide to sell or not. We are just at the beginning of it right now, they didn't even announce it yet. 

But rate cuts, qe and market drops speak for them self.

[Guest]

17 hours ago, BackdoorBullion said:

Only way is up still for gold - I reckon it’ll hit £1400 by end of year given given UK will fall of a cliff due to hard brexit

You could be right, but I determined my exit levels some time ago and have now hit them quicker than I thought. I'm sticking to my plan, but of course we could just keep going vertical in a straight line for a while.

16 hours ago, goluckystayhappy said:

Agreed, probably the worst time for UK holders to be selling, unless the cash is needed for something.

I wish Platinum would see a bit more life in the price.

For every buyer there is a seller 🙂. Platinum is not something I hold/trade, but judging by the last few weeks, you never know.

4 hours ago, BackdoorBullion said:

Gold now past £1220.......

Aye, £1226 on full afterburners 🙂

1 hour ago, Frenchie said:

If Gold rise, this is because there is a HUGE DEMAND that even market manipulation cannot contain anymore , that's simple as it is antd that's a fact. We got used to have gold price compressed in a range of 200/300$ for more than 6 years, so our psychologic marks stay within this range and we cannot understand/accept that it could be a new paradigm coming. We think it overvalued but the market does not believe it anymore. There will be surely a retracement, but I don't count on trying to speculate about prices. The train has leaved the platform and I prefer to be in it than out

I keep all my gold  and would take any lower prices to add to my existing stack

There surely will.

30 minutes ago, Auricsstash said:

I can understand the desire to sell out and I don’t think it’s a bad move. As a £ denominated investor Brexit worries me as I’m not so sure Boris will be able to leave and if the remain dominated parliament decides to cancel it the price of gold will come down in £s.

I did consider selling some but I can’t find anything else to invest in at this time as I genuinely feel the markets for housing stocks are going to go down. I also can’t invest in metal miners as corporate debt is my other worry. It only takes one of these large miners to have a huge debt problem and that could easily wipe out any profits.

Psychologically it has been hard watching the price hit all my predetermined exit levels and then having to send off 'my precious', but I'm sticking to my plan. If as you mention, Boris is unable to leave, we can expect to see at least GBP/USD 1.50 and Gold to £sub £800/oz

20 minutes ago, 5huggy said:

@RichRock its nice to see we "BOTH" have the top performer SIL ive banked some awesome profits by , in effect, buying for free, a couple of other miners that are "in the money" buy a nice margin

Personally - trade the paper miners - take profits and buy physical - STORES THAT VALUE/GAIN 

Aye, I agree. I've kept the Silver, it's still sitting pretty...for now :)

[5huggy]

9 minutes ago, RichRock said:

Aye, I agree. I've kept the Silver, it's still sitting pretty...for now

Its the "Leverage factor" of silver miners that I like! 😉😊

[Guest]

On 07/08/2019 at 11:58, 5huggy said:

Its the "Leverage factor" of silver miners that I like! 😉😊

I get you, but I'm out of all stocks (and FX) too and sitting in my cash phase for now. 🙂

[Kman]

Maybe now is a good time to sell bullion and buy numismatics hmm 

[Frenchie]

All you guys think about Brexit, but look at the gold price in other main currencies... with all time highs in more than 70 currencies, the fundamentals have nothing to relate with Brexit...Gold is at all time high or even explodes these highs because there is something hugely more important than Brexit...Brexit is not the cause but a consequence, of a deep change in our worldwide economy, for every countries 

[RoughDog]

1 hour ago, Kman said:

Maybe now is a good time to sell bullion and buy numismatics hmm 

Not sure I understand your strategy.

Are you saying that the current numismatic premium has fell in relation to the rise in spot price?

or 

The numismatic premium will rise as bullion price rises.

I would expect the numismatics would be come less desirable should the price increase due to the base metal.  Who knows?

 

 

 

[Frenchie]

41 minutes ago, BackdoorBullion said:

But without Brexit gold would be approx £1k an ounce 😉

Certainly not. May be a little bit lower on the verge of historical highs, but not  by much...look where is Gold in Euro, or CAD, or JPY, or CNY, or AUD, and so on...(and I don't even talk about secondary curencies)

Last one will be the US dollar

[Kman]

1 minute ago, RoughDog said:

Not sure I understand your strategy.

Are you saying that the current numismatic premium has fell in relation to the rise in spot price?

or 

The numismatic premium will rise as bullion price rises.

I would expect the numismatics would be come less desirable should the price increase due to the base metal.  Who knows

 

I haven't checked prices, maybe they've caught up, but assuming there is a delay in numismatic prices rising then you get more for less bullion than you would have currently

Numismatic prices have risen with spot prices since gold was down at £700/800

Things like historic sovereigns will always be desirable and will always have to be worth considerably more than spot 

[Michal]

57 minutes ago, BackdoorBullion said:

But without Brexit gold would be approx £1k an ounce 😉

nope it would be 1161 more less.

[Michal]

19 minutes ago, BackdoorBullion said:

Not when GBP to USD was 1.44 before referendum result at start of June 2016.......

1133.68 based on price of gold in uk and usa at 28 june 2016 and todays 1500 in usd