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What's UP ??? I picked the wrong metal

SoldiSoldi Posts: 1,791 ✭✭✭✭✭
edited May 12, 2023 9:14AM in Precious Metals

I think me picked the wrong metal to correct. I figured Gold would correct a bit. What's Up with Silver drop ?

Comments

  • tincuptincup Posts: 4,600 ✭✭✭✭✭

    A buying opportunity!!!

    ----- kj
  • SoldiSoldi Posts: 1,791 ✭✭✭✭✭

    Yes, I will look into that, but the premiums are hard to swallow. LOL

  • ashelandasheland Posts: 21,417 ✭✭✭✭✭

    With the premiums, the drop doesn't really mean much... :s

  • johnny9434johnny9434 Posts: 26,416 ✭✭✭✭✭

    I think it'll be like that for a bit, jmo

  • SoldiSoldi Posts: 1,791 ✭✭✭✭✭

    @tincup said:
    A buying opportunity!!!

    Premiums on a dying commodity is what I'm thinking. Perhaps dying is too strong a word, but if so valued bars wouldn't be eschewed.

  • blitzdudeblitzdude Posts: 4,859 ✭✭✭✭✭

    Not dying per se, just heading back to da gutter. Just like clockwork, 6,000 years + of history tells you all you need to know. There's a damn good reason they call it the gutter metal.

    The whole worlds off its rocker, buy Gold™.

  • rickoricko Posts: 97,755 ✭✭✭✭✭

    I watch the gold/silver markets closely.... quite interesting. While I would not consider the current minor drop in silver a real 'buying opportunity', it likely will not get much lower in the foreseeable future. Premiums are still high. Sellers doing better than buyers. But down the road.... ;) Cheers, RickO

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,204 ✭✭✭✭✭
    edited May 13, 2023 7:08AM

    @blitzdude said:
    Not dying per se, just heading back to da gutter. Just like clockwork, 6,000 years + of history tells you all you need to know. There's a damn good reason they call it the gutter metal.

    Heading back ? Silver was $13 in 2020
    You doomsday guys always buy at the peak, instead of the dip, methinks.... with that 'tude.

  • SoldiSoldi Posts: 1,791 ✭✭✭✭✭
    edited May 14, 2023 6:23AM

    @ricko said:
    I watch the gold/silver markets closely.... quite interesting. While I would not consider the current minor drop in silver a real 'buying opportunity', it likely will not get much lower in the foreseeable future. Premiums are still high. Sellers doing better than buyers. But down the road.... ;) Cheers, RickO

    "US/WE" DOLLAR COST AVERAGING GUYS are just saying, I mean you know, we're just saying. OKAY is THAT OKAY ??

  • rickoricko Posts: 97,755 ✭✭✭✭✭

    @Soldi... OKAY - That is certainly okay... or OK... or Okie Dokie... ;) Cheers, RickO

  • jmski52jmski52 Posts: 21,920 ✭✭✭✭✭

    It's a good strategy to "average in". That means you buy at somewhat regular intervals in roughly the same dollar amounts, which will smooth out the average cost, reducing your market risk.

    The high premiums could mean two different things. It might mean that silver is overpriced because of some dealer considerations. It could also mean that the market is tight and getting tighter.

    Andy Schectman from Miles Franklin has been giving alot of interviews - he usually gives an update on the market, and I think that his information is reliable. Listen to what he's saying and decide for yourself.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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