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View Poll Results: Are you giving up?
No. Never! 27 90.00%
Yes. Going to sell all now & might buy back again when one fine day, PM restarts a bull run. 1 3.33%
Yes. Selling & never going to touch PM again! It's a scam! 2 6.67%
Voters: 30. You may not vote on this poll

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  #1  
Old 21-12-2013, 10:52 AM
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Question Anyone give up?

Precious metals have been going downhill, fast & furious, for the past 9 months. The correction is coming on strong & who knows waves after waves of correction might continue. Just when we thought & hope the correction is over, another one came...

I heard from some of my friends (not from GCA though) that they are giving up on Gold (since none of my friends outside of GCA believe in Silver), anyone here is contemplating doing that?

A show of hands please. Share your thoughts & war stories (fighting PM spot till blue black or even untimely financial death ).
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Last edited by anlok; 21-12-2013 at 01:09 PM.
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Old 21-12-2013, 11:17 AM
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I gave up, partially. Already stopped stacking bullion gold and silver, now merely just continuing my series of koala, gold/silver pandas, Zombucks and Britannias. No more bullion metals for now until I see potential growth in metals again.

But still actively trading paper silver. In fact most of the funds I allocated for physical metals have been channeled to funding my paper silver investment.
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Old 21-12-2013, 11:22 AM
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I have never been into bullion - ASE,CML, 1kg bars are all a loose loose scenario (for me).

Collectibles I will never give up on they go only one way - that's up
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Old 21-12-2013, 11:28 AM
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Quote:
Originally Posted by daniel.yrh View Post
I gave up, partially. Already stopped stacking bullion gold and silver, now merely just continuing my series of koala, gold/silver pandas, Zombucks and Britannias. No more bullion metals for now until I see potential growth in metals again.

But still actively trading paper silver. In fact most of the funds I allocated for physical metals have been channeled to funding my paper silver investment.
So still not considered give up la, since PM includes paper, not only physical
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Old 21-12-2013, 12:11 PM
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Yes gave up stacking low premium bullion cos I foresee more surprises (or heartaches ahead).

Have been really happy with stacking semi-numis and vintage/rare items instead which are largely independent from spot prices.
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Old 21-12-2013, 02:18 PM
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Originally Posted by anlok View Post
So still not considered give up la, since PM includes paper, not only physical
Actually I did give up. I am shorting silver on forex and that means only 1 thing: I don't have confidence in metals, it will continue to go lower.

It has been a while since I last touched my silver stash. Some of them I bought earlier this year for $45 for 1oz silver. I am having lunch now and I was at GSC this morning... $30 for a kook!

Nowadays I enjoy waking up my computer screen first thing when I wake up, to see how much silver has dropped and what is my unrealized gains.
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Old 21-12-2013, 02:39 PM
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Quote:
Originally Posted by daniel.yrh View Post
Actually I did give up. I am shorting silver on forex and that means only 1 thing: I don't have confidence in metals, it will continue to go lower.

It has been a while since I last touched my silver stash. Some of them I bought earlier this year for $45 for 1oz silver. I am having lunch now and I was at GSC this morning... $30 for a kook!

Nowadays I enjoy waking up my computer screen first thing when I wake up, to see how much silver has dropped and what is my unrealized gains.
Which platform you use to short silver? A wise move!!!! . I think I see mini gold in poems......

For me, stop buying but not selling any yet......
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Last edited by havefun; 21-12-2013 at 02:45 PM.
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Old 21-12-2013, 05:52 PM
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Which platform you use to short silver? A wise move!!!! . I think I see mini gold in poems......

For me, stop buying but not selling any yet......
I'm on Oanda, spread is OK for me.
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Old 21-12-2013, 03:09 PM
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I am shorting silver on forex
Beware of the much higher spread for silver than gold on forex. For leveraged trades, silver's spread can become inefficient for proper risk control and reduces the margin of safety by too much IMO.
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Old 21-12-2013, 04:53 PM
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What time were you there at GSC today? Maybe we bumped into each other without knowing. You are definitely not that fellow who bought 5 x 100gm of PAMP Gold Bar I assumed. That was a cool 25K sgd.

There were two groups of people there this morning. One group bought so much silver that the lady cannot carry it into the room for them to inspect. A guy had to help carry the stack into the room.

Another group kept attacking Anlok's favorite cast gold bar of 100gm....

This morning a lot of 'fierce' people there. All high rollers. I felt so tiny in the shop.....

Quote:
Originally Posted by daniel.yrh View Post
Actually I did give up. I am shorting silver on forex and that means only 1 thing: I don't have confidence in metals, it will continue to go lower.

It has been a while since I last touched my silver stash. Some of them I bought earlier this year for $45 for 1oz silver. I am having lunch now and I was at GSC this morning... $30 for a kook!

Nowadays I enjoy waking up my computer screen first thing when I wake up, to see how much silver has dropped and what is my unrealized gains.
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