somehow, could not cut and paste. Mind posting it for the rest to see?

Hi Property101, do you mean UOB? Didnt know only PR can open the account now. When was it the last time you checked?

This post has been edited by chrischin: Jan 8 2012, 12:46 PM

i opened a silver saving account with them last JAnuary. No, i am not a PR or citizen. Didnt know they changed their terms and condition. Lucky me, i guess. This account is good for trading. Then again, i am in KL, to go there to buy or sell is a bit troublesome.

Yeap, January 2011.

Physical is to keep. Bank saving more for trading. (my plan is 2/3 physical, 1/3 paper).

Glad i didnt do it with Mf global, else, habuk pun tarak! Dont really know which trading account is safe. But at least with UOB spore, i think they should be around for a while and at the same time can go down makan, jalan jalan and look look.

This post has been edited by chrischin: Jan 9 2012, 11:22 AM

Will do. Thanks.

NExt trip is when i see silver below 25, still hoping (no offence to those hoping for higher price).

Thanks for the offer. BTW, are you using the Spore UOB for gold saving account or the Msia UOB?

David Morgan: Silver Will Knock Repeatedly on $50/oz. This Year Before Breaking On Through

Posted by David Morgan on January 26, 2012 · 1 Comment

The Morgan Report publisher says a tightly held silver supply putting pressure on prices as the macroeconomic climate fails to improve.

David Morgan, publisher of The Morgan Report, a monthly newsletter that covers economic news, currency and precious metals, believes that silver will be persistent this year in trying to break through its resistance of $50 an ounce. A tightly held silver supply, continued sovereign debt concerns in Europe and a strong appetite for the white metal at the start of the year are factors that he says will make silver a leader in the commodity sector in 2012. HAI Managing Editor Drew Voros recently caught up with Morgan to discuss what’s in store for the silver market this year.

Hard Assets Investor: Silver is starting out 2012 strongly. Is it following gold or is it blazing its own path?

David Morgan: Silver is following gold, but if you study silver carefully, there are times when silver leads and gold lags.

A quick example was last year. We saw silver basically double from around the $25level to $48, in a matter of months. That ended about May 1. Gold did a similar parabolic move, but not quite the percentage gain that silver outlined, but it did it later in the year. So who went parabolic first, silver or gold? Well, in this case, silver did.

HAI: Why do you think silver’s volatility was more intense last year than gold? Was it the drop-off in industrial demand?

Morgan: No it wasn’t. It was purely the momentum players, the guys that sit in front of computer screens all day who see a momentum move. They know it’s a small market. They know they can get extreme leverage in the market and they can use derivatives. And that, of course, causes the price to continue further down.

HAI: Yesterday [Jan. 11, 2012] we saw a large spike in silver sales and price attributed to Sprott Asset Management making a big purchase for its physical silver exchange-traded fund. Are some of these ETFs driving the metals markets?

Morgan: They do, absolutely. But relative to what’s mined in the silver sector, which is about 750 million ounces on an annual basis, the 9 million ounces purchased were not really that large. But what that indicates strongly is that the flow is tight. In other words, there are not all these warehouses full of silver. Supply is in tightly held hands. It’s all held either for investors longer term and/or by industrial users that don’t really stockpile very much. What yesterday’s purchase shows is that whatever comes out of the pipeline has got a lot of people waiting at the end of that pipeline.

HAI: Do you see more silver funds coming to the market, or is there a risk here that we’re going to get saturated?

Morgan: At some point all markets get overdone. And, as bullish as I am, silver probably will at some point. I do see more silver funds coming in. In fact, I’m actually aware of a couple that are being formed as we speak. There will be more demand. But I think the big question implied is, when will it stop? The answer to that is the global financial system is in such dire straits right now, that more and more people are gravitating to the precious metals. And that trend will continue, which implies more ETFs, more hedge funds, more silver mutual funds, more holding companies and everything else throughout the sector.

HAI: Where do you see the strongest industrial demand for silver coming from?

Morgan: Solar is No. 1 right now and is growing rapidly, almost exponentially. It will level off probably by 2014.



HAI: Where do you think silver is headed in terms of price this year?

Morgan: I’m on record saying $60 by the end of the year. And it will probably take all year to get there. The key is to get through that $50 psychological barrier. It’s probably going to take a couple of tries. And I do believe at some point it will. Once it does that, you could see silver go up from $50 to $60 in a matter of two weeks. That’s the kind of move silver is capable of making.

HAI: Let’s talk a little bit about miners. Have the silver miners been as undervalued as some of the gold miners?

Morgan: It depends on a case-by-case basis, but you’re right. The silver mining industry has got the biggest premium in the sector. A good silver miner producing silver at the top of the market in the last bull market sold at 50-to-1 P/E [price-earnings ratio], whereas gold miners were selling about at 35-to-1 P/E. So silver carries a premium. And you see that throughout the sector. There are some very undervalued mining stocks, including some silver stocks in this juncture.

HAI: What is some advice you would offer someone who’s thinking about getting into silver for the first time? What kind of entry point would you suggest?

Morgan: I would say get both gold and silver. There is a program I’m associated with: www.SilverSaver.[LLB1] com. That program is a dollar-cost-averaging program. Just put in the same amount every month and don’t worry about it. If the market goes down, you’re buying more silver. If the market goes up, you’re buying less silver. It’s a great professional way to handle any market, especially a volatile market like the silver market.

HAI: Do you prefer bullion or coins?

Morgan: I prefer coins. I think you want small denominations. That would serve you best in exiting the market, because you have a small unit, you can sell just part of your holdings. Once you get to the bullion, then you’re making bigger decisions. Is it 100 ounces at a time? Is it 1,000 ounces at a time? I try to get everyone to start with coins. But it depends on the individual. If you’re a well-heeled investor and committed to the silver market, you should have a mix of both.

HAI: What coins would you recommend specifically?

Morgan: One rule is to buy as much silver as you can per dollar invested, which implies getting silver rounds, which are privately minted silver coins, not government minted. The government-minted coins are exactly the same in weight and content, which is 0.999 silver. But they have the government stamps on them, which puts a big premium on those.

If you get one any of these private mints, it’s the same exact thing, except it’s not a government mint that’s stamping it out. Nonetheless, it’s just as pure, just as fine, the same weight. But again, it comes down to the individual. Someone says, “No, no, I’ve got to have a government stamp on my coin.” Well then, do that. You’re just going to pay more.

HAI: The U.S. Mint said there was a record amount of silver coins purchased in the first two weeks of the year. What was behind that?

Morgan: Silver is becoming a more popular investment, so a lot of these dealers will buy huge amounts of freshly minted 2012s. They’ll slab them, which means put them in a plastic holder, and get them graded, and then put a huge price tag on them. As far as I’m concerned, it’s a big rip-off. They then sell them for $100 each, when there’s $30 worth of silver in the coin. So that’s part of it right there

HAI: Let’s talk a little bit about asset allocation. What do you recommend when it comes to precious metals?

Morgan: I recommend 20 percent into metals, but it also depends on your age. Because the younger you are, the more risk you can take. If you’re age 60 years or older, half of that would be in physical metal. The 10 percent remaining is done like this: About 70 to 80 percent of that goes into top-tier, cash-rich unhedged mining companies; about 20 percent goes into midtiers; and the remaining 10 percent is spread out among junior miners.

HAI: Do you, at times, recommend selling silver?

Morgan: Absolutely. I got out of silver at $48/oz. on that move up last year, but not all of my position. But it’s very nice to capture $19 on the move to $48, which is basically what I did.

So I do trade, and I do invest. And they’re different topics. One is to make money and go back into cash. The other is just to buy and hold for the long term. Not everybody can do both. But I’ve been doing it for years and years, and I’m comfortable with that methodology.

It is a pleasure sharing some info once in a while. Also, keep this thread "alive" and active.

Why kitco price 33.99 and goldprice.org is 33.81? Which one more "accurate"? I always look at the latter.

If i am a seller, i can always say, GUARANTEE BUY BACK (GBB) at such and such rate. If i want to be a "more attractive" seller, i can also guarantee a good buy back rate. As long as, i, the seller still believe that the silver price will move higher and has deep pocket, then I dont mind the GBB as it is almost a sure win.

Now, lets say silver suddenly rises to USD100/oz in a sharp trending fashion, do you think most seller with GBB will honour their claims (bearing in mind steep rise could result in steep fall, like what happened in March 2011)? If seller dont, then what is your next action? Sue them? Most of the local seller out there are sole proprietor.

What is am saying is GBB is just a sweetener with very little substance. So, buyer beware!

Property 101, this is just my thought on GBB.

Thanks for the ebook. Really appreciate your effort. Cheers.

Wow, this place feel really deserted. A ghost-town somewhat.

Has everyone immigrated to Facebook and not coming back here again?

Ya hor ....... got a website to discuss silver and gold there ...

The dividend itself could be misleading as i heard it is paid once only ........ not a yearly recurring thing. Correct me if i am wrong.

Do go and double confirm if the dividend is paid yearly .......

[quote=property101,Mar 15 2012, 12:18 PM]
Major Silver Shortage by August 2012?
Posted on March 13, 2012 by Josh Renfro

In my research this week, I came across a couple of articles that were particularly interesting. They made the case that a silver shortage could be exacerbated by as early as August of 2012. The first reason given was that currently there is a majority of long positions on silver in comparison to the shorts in place. As we speak, there are currently 2 long positions in silver for every one short position. This is truly amazing considering the massive short positions that have been held by major financial institutions like JP Morgan Chase and others. This disparity in short positions compared to long ones shows how the overall disposition toward gold and silver now are changing.

Mining Strikes
The second reason brought up was the major silver mine strikes in both South Africa and Indonesia. In South Africa, a one days strike was held in which tens of thousands of miners came out in opposition to current working conditions and wages. In the Gold Fields mines in South Africa 85% of workers stopped working leaving mining activity virtually at a stand still. Gold Fields is the world’s fourth largest producer of gold. These strikes right now have only had a small impact on supply provided, but if they continue they could significantly reduce the supply readily available on the market today. As if that is not enough many mining company are reportedly keeping larger quantities of silver as a reserve than before, which also places stress on the world supply.

Fuel Prices and Slow Economy
Third, most economists expect the price of oil to go up dramatically over the summer. Many economists have estimated between $4.50 and $6.00 a gallon. This major increase in fuel cost will also affect mining costs, which will increase the cost to the consumer. Additionally, when fuel prices increase it usually means an economic slow down. In these types of situations other metals like zinc, copper, and lead typically have reduced demand. Right now approximately 75% of all silver mined comes as a byproduct of mining other metals like zinc, copper, and lead. Thus a reduction in the demand for these metals will also reduce the available silver from mining activity.

Iranian War?
Finally, many experts believe a war with Iran is eminent. If such a war were to break out the effect on silver would be dramatic. Silver is used in a large number of military products. The United States does not have a large mining industry in comparison to the rest of the world and would be very dependent on foreign allies. There is also a strong possibility if war is declared with Iran that both Russia, China, and many other socialistic and communistic nations might not sell us large amounts of the metals any more due to their close ties with Iran.

How Likely?
Do I believe that a shortage will happen by August. At this point it there are too many what ifs, but the important point is that it would not take much for a shortage to develop quickly. So regardless of whether or not a silver shortage takes place in August or three years from now investors need to be ready.

source: http://lonestarbullion.com/blog/2012/03/ma...by-august-2012/

[/quote}

As far as i can remember, they have been talking about silver shortage for many many months now ....... but yet we have no issues with ordering our silver from USA.

This post has been edited by chrischin: Mar 16 2012, 09:44 AM