The other precious metals - Gold & Silver investments

[stektan]

Hi, since some of us has been "hijacking" a FS post to discuss about silver, thought i'll start a new thread in the kopi-talk section. Anyone tracking the development of gold and silver price as well? Seems like a lot of news about it recently, especially on Silver which has hit a 30 year high of $40.59/oz. Any bros reckon it's time to sell as market seems to be getting too speculative?

[ruzmidah]

Hmmm... tough question, I also am quite tempted to sell and hold cash...

But then, holding cash (ie paper) is still not safe with all these debt, "quantitative easing", wars etc etc, leading to lots of inflation.

I guess just sell some and keep the rest for a later date. Hopefully a solution to this monetary problem will come out (unlikely to be soon i think)

[stektan]

Have been trying to read up on the rise in silver and it seems that many government, banks and individuals are starting to hoard silver instead of gold as an alternative currency because gold is getting so expensive and US$ is wasted. If so, I think there is still some scope for silver to rise. Once it hits $45/oz perhaps I'll start to offload some although I'm not sure what else to invest in!

[Louis V]

I personally think that silver has the opportunity to rise to $60 so at $40, still a 50% upside. Some, however, feel that the price can go up to $400... that imho, feels like a very aggressive bet. Comparing gold against silver, the latter has more industrial purpose use. But I must admit that a lot of the upside so far has been driven by speculation fuelled by inflation.

[pegasi]

Back in those (younger) days when I bought silver accessories, I don't remember they were sold by weight like gold accessories. Has that changed now

[stektan]

Tiffany

With silver prices going up, I wonder if Tiffany will raise their prices??

[Louis V]

Back in those (younger) days when I bought silver accessories, I don't remember they were sold by weight like gold accessories. Has that changed now

That didn't change but the rise of silver is amazing. Within a year, it has gone up from $15 to $40. Most folks in SG typically invest by putting money in a silver savings account (which only UOB offers at this point in time). You don't hold physical silver so you don't have to pay GST when you invest. Compared to gold, the upside for silver is higher since the base is smaller. Nonetheless, precious metals are the in-thing these days.

[stektan]

Latest spot rate on Silver is US$41.5 even though US market is closed...pretty amazing, almost scary!

[Darkangel]

With silver prices going up, I wonder if Tiffany will raise their prices??

Tiffany actually reduced their prices about 1 month ago. Slight adjustments due to currency

[Louis V]

Interestingly, there was an article in Straits Times the Sunday that just passed. Warned folks of the potential correction on silver.

[stektan]

Indeed, starting to see more "watch out" articles on silver. While everyone expected silver prices to go up, no one really expected it to rise so fast. As they say, what goes up fast will come down fast too! Let's see if it breaches the $45 mark although market is starting to soften today..

[stektan]

Silver just touched US$43.3 after a small correction. Thinking of converting my silver UOB account into physical coins. Besides silverbullion.com.sg, anyone knows where to get silver coins? Their premium seems to be spot + S$12.6, which is rather high. Don't want to buy off ebay for now.

[taxico]

was anyone affected by the events over the past few weeks?

[minimerc]

Metals and commodities r "negative carry" trades. Unless One believe in strong appreciation, else do not hold too long. Silver is massively over prices. With gold at 1.5k, "fair" historical value shd be ard 25 to 35 levels. I sh alowly correct back to ard 30 level if gold holds at ard 1.5k Any level above 40 r super speculative. The imposition of extra margin total burst the speculative bubble.

[stektan]

Revisiting this old thread...any bros till playing Gold & Silver? Since the last Apr, Gold has increased from US$1500 to today's high of US$1636/oz after briefly hitting a high of US$1640. Silver meanwhile, after the last rollar coaster ride, has steadily increased from $32 to today's $40...which I think is a much more realistic move vs the last time. Some talk that there will be a correction in mid-Aug before going up again for rest of the year to new highs. Bros who are interested might want to monitor prices this month.