I would love some feedback from BPT and its members on how you
trade precious metals like silver. I have stock in a few miners,
but I've stayed away from SLV, GLD, etc., because they are taxed as
collectibles. I know that's pretty lame, but I don't like to trade
what I don't understand if I'm going to find out later that much of
the profit went to paying taxes and fees. The problem with trading
only the miners is that, often, they just don't move with the
metal- even when the metal is moving nicely. I'm looking for an
approach that covers both. Perhaps a trust like SLV is the way to
go. If so, I'd welcome your feedback.
I like the futures idea. Also, I thought these trusts like SLV
and GLD were more heavily taxed due to the collectibles
designation. I have a gold coin or two, but I'm not really
interested in tying up my $$$ right now in a physical asset. I have
need of my cash for a move. Thanks, all for your feedback.
? SLV and GLD should just be treated the same as buying and
selling stock, same capital gains.
I trade these, but I also buy physical, have done well doing
that over the last 20 years
and I also trade GC gold futures, I haven't traded silver
futures yet. The futures are as pure as you can get, and the best
tax benefits over short term capital gains vs stocks. I take manual
trades but I also have the KISS system running on small time frames
of GC futures that auto trades for me
and of course it matters if you are trading in a tax free IRA
account (which in that case tax doesn't come into play, or a
taxable account
The way my gold dealer works; they will give you a 1099 if you
sell more than 32 ounces at once. But if you go in and sell 2
ounces or 5 ounces or 10 ounces they do not LOL. So the trick is,
don't go sell all your gold coins/bars at once. Of course you are
required to report those sales yourself ha ha which I'll leave that
up to you
Posted by tradeit007 on 3rd of Apr 2024 at 04:49 am
Matt, I don't know how you feel about adding a futures (ie, GC
& SI) to your systems, but I hope you will consider it
especially for PMs that IMO hold perhaps unprecedented trending
potential. This would also open up tax-favorable treatment (the
60/40 rule) for GC & SI options. Stocks and ETFs are one thing,
but like you say 'the futures are as pure a play as you can
get.'
I would love some feedback
Posted by Trendie on 2nd of Apr 2024 at 09:59 pm
I would love some feedback from BPT and its members on how you trade precious metals like silver. I have stock in a few miners, but I've stayed away from SLV, GLD, etc., because they are taxed as collectibles. I know that's pretty lame, but I don't like to trade what I don't understand if I'm going to find out later that much of the profit went to paying taxes and fees. The problem with trading only the miners is that, often, they just don't move with the metal- even when the metal is moving nicely. I'm looking for an approach that covers both. Perhaps a trust like SLV is the way to go. If so, I'd welcome your feedback.
I like the futures idea.
Posted by Trendie on 3rd of Apr 2024 at 01:12 pm
I like the futures idea. Also, I thought these trusts like SLV and GLD were more heavily taxed due to the collectibles designation. I have a gold coin or two, but I'm not really interested in tying up my $$$ right now in a physical asset. I have need of my cash for a move. Thanks, all for your feedback.
? SLV and GLD should
Posted by matt on 2nd of Apr 2024 at 10:30 pm
? SLV and GLD should just be treated the same as buying and selling stock, same capital gains.
I trade these, but I also buy physical, have done well doing that over the last 20 years
and I also trade GC gold futures, I haven't traded silver futures yet. The futures are as pure as you can get, and the best tax benefits over short term capital gains vs stocks. I take manual trades but I also have the KISS system running on small time frames of GC futures that auto trades for me
and of course it matters if you are trading in a tax free IRA account (which in that case tax doesn't come into play, or a taxable account
Last time I traded gold
Posted by jlevinthal on 3rd of Apr 2024 at 09:16 am
Last time I traded gold coins the american eagle gold coins were not taxable
The way my gold dealer
Posted by matt on 3rd of Apr 2024 at 09:23 am
The way my gold dealer works; they will give you a 1099 if you sell more than 32 ounces at once. But if you go in and sell 2 ounces or 5 ounces or 10 ounces they do not LOL. So the trick is, don't go sell all your gold coins/bars at once. Of course you are required to report those sales yourself ha ha which I'll leave that up to you
Silver
Posted by steve101 on 3rd of Apr 2024 at 09:41 am
Matt, Are Silver futures currently over Monthly resistance? It looks that way to. me --- https://www.tradingview.com/symbols/SILVER/
tradingview.com
SILVER Charts and Quotes — TradingView
View live CFDs on Silver (US$ / OZ) chart to track latest price changes. Trade ideas, forecasts and market news are at your disposal as well.
Matt, I don't know how
Posted by tradeit007 on 3rd of Apr 2024 at 04:49 am
Matt, I don't know how you feel about adding a futures (ie, GC & SI) to your systems, but I hope you will consider it especially for PMs that IMO hold perhaps unprecedented trending potential. This would also open up tax-favorable treatment (the 60/40 rule) for GC & SI options. Stocks and ETFs are one thing, but like you say 'the futures are as pure a play as you can get.'
YES PLEASE, INCLUDE NQ, YM,
Posted by mundy on 3rd of Apr 2024 at 08:03 am
YES PLEASE, INCLUDE NQ, YM, RTY and CL.