Buying silver....

BFranklin

BFranklin

Member
Joined
Jan 20, 2008
Messages
215
I know many of you buy gold and silver. I bought 10 ounces of gold and tomorrow (Monday 3/17/08) I want to buy 1400 ounces of silver. The silver is about $20.60 an ounce. My question is should I buy it Monday or wait cause I heard that there's a correction coming that should bring the price down to $17-18 or something Im not sure?

Also the Fed is going to lower interest rates on Tuesday which will send the price of gold and silver up this is why I want to buy Monday. What do you think?

I know many of you post on the gold and silver forums but I cant register there so I thought this was the next best place.
 
Yes, I've heard about a correction too. Maybe just buy half of what you want, and wait to see if it happens. Either way, silver is still cheap right now.
 
I would buy today, gold will correct, but that will occur after the economy gets back in good shape, which might not happen for a while, and thats not saying if the financial sector implodes, which is possible. Compared to 1980, gold is still 30% lower than its inflation adjusted high of ~2200 an oz.
 
Just make sure that you don't make precious metals be more than 25% of your portfolio, or you are setting yourself up for diversification risk.

As far as timing, no one knows which way the pricing is going to go in the short term, so just spread you purchases over time and get the average. Which is just another way of spreading risk.

Too bad you didn't buy in a couple of years ago. :D
 
The correction talk is put out there to make you second guess your decision.

The question you have to ask yourself is this - Would you rather buy at $20 and have it correct down to $18 before it shoots to $200. OR, do you want to wait for a correction that never occurs and miss the boat.

Whats the total risk of not buying now? I don't see it going below $17. Worst case maybe down to $14. There is massive support at $12, and that was before the sheeple were aware of a problem.
 
no one has a crystal ball... so gold and silver could have a pullback at any time. it's possible to see the price fall maybe even 10% or more for silver especially. but it's also possible the price could go up another 50% before it falls off 10%.

i would just buy it asap. the us dollar is getting absolutely crushed right now. i think this might be the biggest one day loss for the dollar ever in recent history. so if you're planning on buying it to hold onto for a few years... just go and buy it. sure, it might have a pullback, but just trust that it will go much higher. if you don't think you have the stomach to watch the value fall 10%... then you can wait until the pullback happens and buy when it's down... but if you start waiting for a pullback, you might be waiting a long time and you're going to see the price skyrocket while you wait for the pullback.
 
Gold/Silver will do well as long as there is a lot of uncertainty in the market, I see this for at least the next few months.
 
I would recommend not buying in all at once. I bought the same amount of silver everypaycheck and ended up averaging $11/oz.

Ease into it, but tomorrow, wait for it to move down, buy again, when it goes back up, buy again, etc
 
I'd get in now, but a good rule to follow if you are planning on accumulating is to buy a certain dollar amount each month, not a certain number of ounces.

If you buy a dollar amount each month, you will buy more ounces in a down time and less at an up time, so your cost/ounce is better than if you just buy a set # of ounces each month.
 
Original_Intent said:
Yeah I read a couple of weeks ago something about a target price for gold of $500/ounce. Of course, that could just be disinfo to make people second guess getting in (actually that's how I'm betting).
Click to expand...

A high gold price makes it clear that there are serious problems with the dollar and inflation, so i'm sure part of the reason they're selling is to keep some downward pressure on gold. Anyone thinking that this selloff is going to get prices down to $500/oz is smoking something. I bet it doesn't get lower than mid to low $900's.
 
Danny said:
A high gold price makes it clear that there are serious problems with the dollar and inflation, so i'm sure part of the reason they're selling is to keep some downward pressure on gold. Anyone thinking that this selloff is going to get prices down to $500/oz is smoking something. I bet it doesn't get lower than mid to low $900's.
Click to expand...

If it does get down to $500, I know where some of my money is going...
 
The IMF rhetoric is just that.

That fear prevented me from investing when it was $650. The European Central Banks were keeping it at that price. When they stopped selling, the price climbed to where it is today in short order. It is true they can manipulate it down any time they want. But I think the bigger risk is not having any gold. If they want to put it out on sale in the future, great!

BTW, I think silver is a better investment. They can only manipulate that market with paper, not physical silver. There are 400 Million Ounces of silver held short by 8 organizations, mostly by 4, that is nearly an entire years worth of silver production that will have to be bought back at some point in the future.
 
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