is silver going to go back up?

[Gideon]

Always buying silver

When I bought at $20, I thought it was a good deal.

Now that I am preparing to buy at $17, I call it a GREAT DEAL.

A "re-valuing" FRN can be beneficial for those of us who want to obtain more of the monetary metals.

I encourage everyone to go out and buy at least one ounce of silver within the next week.

 

[markpa]

I have all of my savings in Gold/silver and I'm not worried about this drop at all. The advice about not buying into a bubble is good but for the next several years at least where else would you put your savings?

The stock market? Bear Stearns just went from around $90 a share to selling for $2. Gold will never drop that much.

Hold it in dollars in a bank account? We are seeing massive inflation that destroys those dollars's everyday. I don't care what they say about the dollar going back up. I know if I go to buy groceries it's more expensive then ever.

I certainly wouldn't take out a loan to buy gold/silver but if you have savings it's the best place for it in my opinion.

 

[pacelli]

From what I'm seeing, you paid market price.

The bullion spot price for Silver is bullshit right now, atleast for those wanting to take possession. BullionDirect is going 19.36, but that is pre-shipping and insurance.

BD is a strange site when it comes to pricing. When the market price dips by a dime or a quarter for 15 minutes, their spot prices don't update for at least 10-15 minutes on average. When the market price surges, their prices are updated immediately. If you pay by credit card, shipping insurance is free. However, they absolutely rape you on the handling fee, which is often just as much as the shipping fee. So for a 15 oz order, you end up paying $20 above your shopping cart price to get it to you. They're making plenty of money off of the new people getting into PMs.

 

[freedominnumbers]

I have all of my savings in Gold/silver and I'm not worried about this drop at all. The advice about not buying into a bubble is good but for the next several years at least where else would you put your savings?

The stock market? Bear Stearns just went from around $90 a share to selling for $2. Gold will never drop that much.

Hold it in dollars in a bank account? We are seeing massive inflation that destroys those dollars's everyday. I don't care what they say about the dollar going back up. I know if I go to buy groceries it's more expensive then ever.

I certainly wouldn't take out a loan to buy gold/silver but if you have savings it's the best place for it in my opinion.

Consider foreign currency. Australian banks are paying 7.75% on 3 month CDs. On top of that you'll have an estimated gain of 20% on currency as well if things keep going.

 

[davver]

I was backing off silver purchases because of the huge run up, but I'm jumping back in the fray. If you are worried about deflation then short the dow as a hedge.

 

[Acala]

Re: foreign currencies

I would consider investing in foreign currencies but most of them are inflating too! Some of them worse than the dollar. Some of them are pegged to the dollar. I don't know how I would choose. I don't feel like trusting any fiat money at the moment.

 

[JSutter]

I bought 13 more ounces of silver off ebay last night for $19-20 an ounce shipped and still think it's a good deal. You just have to decide if you're in for the long or short term. If you're going long term just buy and put it away and don't worry about what the price is last week, this week, or next week. Buy on a dip if possible but if not don't feel like you're screwing yourself paying a few bucks over spot if you're not looking to sell anytime soon.