Member Info for Bancal

There was a drop in the price of silver of about 1.7% at around 14.30 and then a swing up of about 1.9% by about 15.00 - those short duration wild swings are (so I've read but can't find the article - I read so many) short traders manipulating the market using paper silver to cover some of their short losses.

Paddy doesn't get involved in petty arguments
Paddy is always polite and respectful
Paddy posts useful research.

Be like Paddy.

Cheers Sojourner

Using the NSR calculator at the site below with $1400/oz gold and an average grade of 2.5 g/t gives a NSR of $91/tonne of ore using the default process recovery (90%) and Payable Factor (90%) given in the calculator. With everything else held constant NSR is a linear function of grade, so for an average grade of 2 g/t the NSR becomes 2/2.5x91 = $73/t of rock.

https://kuchling.com/rock-value-calculator/

A feature that I think is vital but lacking on the HL site is the ability to show a plot of your portfolio value Vs time and compare it with the performance of a benchmark or another share/fund. I have asked if there is any intention to implement such a feature but not at the moment .

We dance round in a ring and suppose,
But the Secret sits in the middle and knows.

Robert Frost

Why not print unlimited amounts of money and buy up anything and everything? The answer is hyperinflation.

I contacted HL about this a couple of weeks ago and they replied

"We do not offer the ability to hold physical assets within a SIPP account with HL. This includes commercial property and physical gold."

A Datsun 1200 was around 1600 dollars in 1973 and that's one of the cheapest cars I could find. 73 dollars would not have gone far towards a house deposit either so I think 73 dollars wouldn't have got you much in 1973 either. 1 dollar in 1973 would be worth around 5.86 dollars today - i.e. a dollar today is worth around 17% of a dollar in 1973. An oz of gold in 1973 was around 97 dollars on average so it has gone up around 19x in value. I think your argument is flawed.

That's not good for fiat, great for gold and wonderful for GGP IMHO.

From https://www.bloomberg.com/news/articles/2021-01-08/gold-heads-for-sixth-weekly-gain-on-stimulus-outlook-fed-speak

Gold Drops Below $1,900 as Dollar Turns Higher and Stocks Rise

"Billion slipped as much as 1.8% in London, as a gauge of the dollar spiked from the day’s low, while stock markets were supported amid hopes for more stimulus. The two Democratic wins in Georgia’s Senate runoffs this week give U.S. President-elect Joe Biden full control of Congress, potentially paving the way for him to push his legislative agenda forward.

Bullion’s had a mixed start to the year after posting the biggest annual advance in a decade. While there’s still plenty of tailwinds -- a raging pandemic, uncertainty over the economic recovery and rising inflation expectations, to name a few -- gains in benchmark Treasury yields this week weighed on the non-interest bearing asset.Billion slipped as much as 1.8% in London, as a gauge of the dollar spiked from the day’s low, while stock markets were supported amid hopes for more stimulus. The two Democratic wins in Georgia’s Senate runoffs this week give U.S. President-elect Joe Biden full control of Congress, potentially paving the way for him to push his legislative agenda forward.

Bullion’s had a mixed start to the year after posting the biggest annual advance in a decade. While there’s still plenty of tailwinds -- a raging pandemic, uncertainty over the economic recovery and rising inflation expectations, to name a few -- gains in benchmark Treasury yields this week weighed on the non-interest bearing asset."

I bought a 1oz silver britannia for a Xmas present for one of my boys from Atkinsons and the service was excellent. I bought a used one (2014) because it didn't incur VAT and it looked mint to me - came in a little plastic wallet.

Thanks for your reply Speedy. Cheers.

Speedy the problem I have is that a lot of my money is in a HL SIPP and you cant hold physical gold or silver in their SIPP so I have some money in PHGP and PHSP and am in the process of switching to the Sprott Physical Gold and Silver Trust which they have assured me (not sure what that assurance is worth....) that their gold is fully allocated and unencumbered. See my email to Sprott and their reply below.

"Dear Sir/Madam,
I am considering investing in the Sprott Physical Gold and Silver trust and am writing to confirm that the gold in the fund is fully allocated to the trust and cannot be lent out to other parties (an ETF for example). Also, in the event of Sprott failing, who has ownership of that gold and silver and could that asset be used to pay off Sprott debts? I hold PHGP and PHSP, which are Wisdom Tree gold and silver ETFs backed by physical gold and silver, but I'm becoming increasingly concerned that I don't know if that gold and silver is fully allocated, borrowed, lent out or whatever."

And their reply

"That is correct. All of our bullion trust are closed-end and trade on exchange. They are fully allocated at all times and fully unencumbered, in order for us to create more shares more physical metal needs to be acquired."

Bamps21 I was the one that started the Scottish Independence thing off and didn't mean it to upset folk or take on a life of its own. In my defence we've had numerous off-topic threads in the past - electric cars, tesla are a couple that spring to mind. That's what happens when you get a slow day with nothing much happening on the share front. I'm sure we are all guilty of posting off-topic comments on this board but the main thing is to be polite. I find the deramper/ramper mud slinging particularly annoying given that often all someone is doing is asking valid questions about the share price either way (i.e. under or over valued). Anyway, no more mention of Independence on this board from me!

An interesting read for a slow day on the markets.

I like the quote at the end of the article.

"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” – Norm Franz, 2001.

http://news.gold-eagle.com/article/what-affects-price-gold/957

HL showing 33.75p to sell and 37.25p to buy.

Thanks for that Awax and your reply Speedy.

What I meant to say was that I have a SIPP with HL and hold PHGP and PHSP but Speedy has made a few comments about gold ETFs that got me thinking and doing some research and the article above was part of that research. Also, I have contacted HL about holding physical gold in a SIPP but have not had a reply yet. I contacted SPROTT about the Sprott Physical Gold and Silver Trust and in particular about counterparty risk, lending of gold etc and received this reply.

"All of our bullion trust are closed-end and trade on exchange. They are fully allocated at all times and fully unencumbered, in order for us to create more shares more physical metal needs to be acquired."

Sprott say you can ask for your gold to be delivered - not sure if that applies to the UK but at least that would suggest they own all the gold.
This wasn't a problem until I started investing in GGP and now I have a chunk of cash in a SIPP I want to protect for the future! I had a Bullion Vault account a few years ago that was doing nothing so transferred the cash to my SIPP, thinking the tax relief would be worth more than the gains on the gold I held...... some of that cash went into GGP so it hasn't worked out too badly.

Speedy, do you have any thoughts on the Sprott Physical Gold and Silver Trust?

https://goldseek.com/article/alarming-developments-gld-etf-reaffirm-need-own-physical-gold