There is more gold, platinum & silver traded than physically exists, that in itself should raise flags. For private investors it’s a minefield and best left to professional traders playing with OPM unless buying physical precious metals to hold for the long term as a hedge against inflation. IMHO.
I trade precious metal as a hobby for some time. Holding physical metal is expensive. You will lose about 6 percent when buying and selling Gold. Silver is worse as it isn't vat exempt. There are trading platforms like the one I mentioned which hold the actual metal in big ingots. You buy and sell a small portion of a big bar. No Vat on silver that way either. They charge half a percent per transaction so you nee a increase of 1 percent plus to make some money. I look for small quick gains. While gold is on a steady climb it's probably still viable as a long term investment. I prefer Silver as it is more volatile. Most of the time if the stock markets are weak, metal is on the up. On Wednesday I made 1.8 percent clear profit on my investment in 2 hours. Platinum is still very cheap compared to a few years ago. It cost about 600 pound a ounce to mine and refine and not long ago it was selling below that. Mainly due to decreased demand in the car industry. Still not a bad long term investment in my opinion. If you bought some Gold in 2008 it was about 200 odd pound a ounce, in early 2016 it was 700 pound a ounce, this morning 1480 pound a ounce. At 10 pm on the 23.of June 2016 (Brexit referendum) I bought some for 860 pounds per ounce. The next morning it stood at 1050 pound a ounce.
Good point, I didn’t necessarily mean holding the gold/platinum/silver at home, unless perhaps they’re gold coins eg kruggerands or sovereigns. Making sure what you buy actually exists in a vault is a wise move as there are a lot of derivatives about.
Thats interesting, I didnt check the official figures. I bought £10k of bonds in 2008 and kept them till earlier this year. It was a good way to keep what I considered my emergency fund to cover things like roof repairs, new boiler and so on. There is quick but not instant access. When I sold the bonds they had increased to just under £13k so £2800 over 12 years. I cant be bothered to work out the exact rate of interest . Obviously not spectacular but better than a poke in the eye. I used the bond money along with other savings etc to buy half an acre of land with 2 decrepit barns on. This land happens to join on to my garden so increases my plot and prevents other people being too close . Going off topic but if there is anyone on here with knowledge of the best way to obtain planning for dwellings using agricultural buildings on green belt please PM me.
P2P companies seem to be weathering the corona storm quite well I use three different ones, one company has temperarily reduced interest rates to build up the provision fund to cover potential losses, I have averaged over the years 5.6% currently getting 5.8 to 6% invested over 5 years with an early withdrawal fee. Steve
Have a read up on Class Q development rights. We had a land acquisition chap approach us back in February wanting to buy our land. I’ll fish out his details and PM them to you. I was due to meet him before this lockdown happened but apparently you can build on the footprint of the existing farm buildings. I’m not sure if the timescale of ownership applies but this chap was prepared to meet and discuss everything so it’ll be a good way to get some info.
The commodities markets are quite volatile at the moment, you could gain or loose big. Not ideal for a short term low risk investment. Good financial advice does not come cheap, and I would advise taking it if he is looking at high risk ,high return/ loss investments it is only going to be in his possession for a year, and then has to pay it back. leave it in the bank.
picking up on your thread @Harry Bell , firstly, how did it go/did it even happen? (no need to answer, just curious) Secondly, does anyone have any sound recommendations for a Building Society that offers 0.6% or more on an annual FR Bond? (asking for my mate Tim)
Kent Reliance B Soc are offering 0.55% on a 60 day notice savings account, no guarantee that this will not drop though.
Thanks, there’s quite a few out there but was hoping someone might have a recommendation based on time spent with a company.
I ended up going for ns&i fixed income bonds at 1.16% but they are dropping to nothing on the 24th, so I'm moving to secure trust bank 90 day notice at 1.17% till March I think then 1%
Come on gentlemen. The international standard scale for defining how mad a women is the "Mad Cat" scale. One cat - Appears normal in public on initial meeting. Almost acceptable, although there is potential for trouble, especially when she insists the angry, hairy fucker has to come with her when she moves in. Two cats - Straining it a bit, but you can persuade yourself that the argument that the other hairy fucker needs a pal is sound, as long as you are getting your Nat King. Three cats - this is the first concrete indication of mental aberration; medicates with box wine, cries at any Eagles track. Four cats - Can be dangerous, argumentative, aloof, irrational, compulsive, vengeful, sleekit and duplicitous. The owners can be just as bad. Five cats - often accompanied by a pervasive smell of cat pish. Medicates with unknown pills from her pal Angie in accounts as they did wonders for her Mum. Six cats - You are not welcome. Strangers are to be avoided, danger lurks around every corner logic and rational thought have been abandoned for crystals, candles and seances. White gloves to be worn at all times. 7 cats - Curtains drawn, grass uncut, garbage overflowing from bins, clothes not changed, white gloves now grey. Lives on organic mung beans fertilised with gallons of her own pish and the mountains of stinking cat shite scraped off the house floor. 8 cats - Nocturnal only, to commune with cats, OBVIOUSLY AS THEY NEED ME TO LOOK AFTER THEM YOU CUNT! Talks to them, they talk back and she understands! Feeds them roast chicken from your fridge. Talks gibberish, wears cheap, heavy fleece jackets, matted and hairy with embroidered pictures of CATS! ( where do these jackets come from?). Needs no medication, in her valued opinion as she is "cleansed" by her Guru Sven once a week; you are too scared to ask what the cleansing involves and are double scared to ask if you can watch. Nine cats - Approaching "Peek Eye Swiveller" status. No interactions, skeletal as all food is given to the fat hairy bastards that she doesn't realise are not only taking the piss on an Olympic scale but inviting all their flea bitten chums back for some of the action. Full on TEN CATS MAD - Cat overload, nae excuse, nae hope, furballs everywhere. You are WRONG she is right; always. Even as she is covered in cat vomit and there is a mummified cat on the stereo with a perma-grin and eyes that follow you round the room. Cries and moans (and the Eagles) can be heard from behind her 1200 kgs of tiddles munchies and catsan litter clogging her bedroom; you see the occasional dancing wig and cats held aloft through the gap in the door. If you have to wipe your best hoofs when you leave the house then we have reached the peak. Now you know folks. I know from personal experience about the Mad Cat Scale. you have been warned.
