Precious Metals Advice needed - Looking to buy silver

Hi All,

I currently have the below asset classes and I am looking to add some precious metals, particularly silver:

Property
Crypto
Super (combination of various asset class)
Stocks (on recently started acquiring a little

I was looking at gold, but given its currently at an all time high in Australia, I'm hesitant to jump in now, hence why i started looking at sliver, which us currently 50-60% below its previous all time highs.

The main reason for adding some precious metals is for some diversification and well as protecting the value of my some of my capital (in AUD). I had thought about converting some of my AUD to USD, but once again, the USD is at an all time high agains the AUD, so hesitant to make the switch now.

Interested to you from any of you familiar with precious metals, particularly silver.

Thanks,
Robbie

 

I have a small qty - around 5oz gold bullions, 6oz gold jewellery (pure weight), and 200 oz silver. On a weighted average basis, gold is up 45% and silver about 5%. This is collection purely between 2014 to 2020.

Don't skip gold purely because it is expensive - the price is high because it is sought after. You may decide to buy some gold (eg. 1/10oz units) even if u focus on silver - if Ag interests you more than Au purely due to price.

 

abc buliion, physical bars delivered..

 

I've got about 15% of SMSF in physical gold and a small amount outside super but I don't think now is the time to buy.
Accumulate gold when things are good and prices are lower. Buy it when you don't think you'll need it then you'll have it when you do. Has provided a nice little hedge to falling share prices and certainly a good time to have money stored outside the financial system. Gold performs this role far better than silver. Due to the current price difference I was actually tempted to buy some silver recently but I like to invest counter cyclically so am more focused on shares at the moment. If I didn't already have a position in PM's I'd go silver at the moment.
Have held silver in the past but traded it for gold over time which might be a good strategy to start at the moment.
My favourites were kilo bars, 10 oz bars, collectable coins with numismatic value and 1966 round fifties.
I found 100oz bars harder to trade so better to keep to smaller sizes.

Willy

 

The price of silver was high in 2011 because it was sought after as well and look at how that ended up. I still remember hitting refresh over and over and watching the price rocketing up, sold as quick as I could and it's never recovered.
The gold chart at the moment looks somewhat similar to the silver chart in 2011.
Not that I'm selling my gold!

Willy

 

Gold and silver are worlds apart though based on supply - both mined and reserves.

Yes there could be slight price corrections for gold, but it has only trended up generally compared to silver.

 

Agree, gold isn't an investment it's an insurance policy. Just means you pay more for insurance at the moment.

Willy