Should I buy now?
RyGuy
Posts: 1,462 ✭✭✭
I'm taking a much needed break from coin collecting and am looking to move my funds into PMs for the time being. I don't have a ton of disposable income to spend at the moment, so was looking at picking up around 20 +/- ounces of silver and maybe 2 +/- grams of gold to start out with.
With the current market being at its highest, should I still go ahead and make a few light purchases or wait a few days and see if there is a little drop?
Thanks all!
And p.s. - This forum is a great asset in addition to the U.S./World Coin forums I normally frequent here, wish I would've visited sooner. I probably spent 2+ hours just going through the silver bullion picture thread yesterday.
With the current market being at its highest, should I still go ahead and make a few light purchases or wait a few days and see if there is a little drop?
Thanks all!
And p.s. - This forum is a great asset in addition to the U.S./World Coin forums I normally frequent here, wish I would've visited sooner. I probably spent 2+ hours just going through the silver bullion picture thread yesterday.
0
Comments
If you want to hold your PM for long time, "keep on stackin' " (SB™) week after week.
I, sometimes, need to sell my PM to get some cash, so I am not buying much in this period waiting for a drop in Ag/Au. I am not sure though that is going to happen soon!
Check the BST thread in this forum, you may find something nice and fairly priced.
That might change if the markets go parabolic. In a bubble market, those that continue to average in with steady purchases can suffer a lot of financial damage. It isn't a bubble yet, but there is some foam at the edges. When those that made fun of my $3000 gold price projection from years ago, start advising me to buy gold and silver, and even bragging about their profits, that will the time to cut way back and start heading for the exits.
Consider that central banks have rekindled interest in gold as part of their monetary reserves after the worst economic crisis since the Great Depression. Gold is often used as a hedge against economic uncertainty and market volatility. A lot of big money is causing the gold price to escalate.
just as long as what you are parting with will never (at least unlikely) give you sellers remorse!
also if you can try to do a monthly "program" buy. set aside what you can budget in $$$ for PM and buy. to start just pick a day, don't be frozen with the minute up and down ticks. when you get a better feel maybe you can time a physical purchase on a down tick, just don't fret. i believe (and a majority here) it's all going higher anyway.
a VERY wise man said it's all about how many ounces you have and not being concerned about the price paid (something like that)
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>correction coming shortly, stack you cash. >>
Hope so, 'cause I want more. Buy the dips...if you can find 'em.
<< <i>correction coming shortly, stack you cash. >>
Not yet. Wall Street will wait until more folks have bought in and then they'll yank out their profits.
I decided to start slow and just purchased two 1 gram gold bars (why I waited, I'll never know). I'll probably just keep on adding that amount every two weeks or so since school/books kick my ass rather frequently.
<< <i>
Not yet. Wall Street will wait until more folks have bought in and then they'll yank out their profits. >>
I believe the paper game is somewhat in control too, but something tells me that even Wall Street may soon not
be able to stop this bull from stampeding their ability to have control in this economic environment.
<< <i>
<< <i>correction coming shortly, stack you cash. >>
Hope so, 'cause I want more. Buy the dips...if you can find 'em. >>
I agree. Would love to see 1,100 once again. Well, I guess a guy can dream, can't he
roadrunner
If you plan on buying now in order to sell when silver reaches $24.00, don't bother.
If you think it would be a problem if silver went to $16.00 - don't buy, don't buy, don't buy.
Red Tiger has some good advice. The price has not gone parabolic, so you can still accumulate.
In 1980, you could see a parabolic move taking shape, and it didn't happen overnight. On a chart, it looks impressive, but there is a different dynamic when it is actually happening. The mood swings to outright optimism about the PRICE, and when you sense that your finances are invulnerable to any damage, get out.
It's a counterintuitive move when you need to take it.
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Congrats on your purchase... conventional wisdom is periodic dollar cost average...
Beaumont Boys Another AGE deal
Postby scotchbriar on Tue Sep 21, 2010 7:59 pm
Linky
Just got the latest edition of American Rifleman (Oct '10).
One 2010 $5 AGE for $138 shipped.
Offer expires 10/15/10. Limit one per household.
Vault Verification: UAMRFRG1010
1-800-459-2646
I quit shouldn' on myself back in 1999.
when gold was here and silver was here:
and David Hall said right on these boards about 5 years ago to GO LONG ON GOLD
Here's the chart five years ago.
GOLD
SILVER
And at the CLOSE of BUSINESS today we have
GOLD at $1318.60
SILVER at $22.09
There's little time for "SHOULD". Won't you agree ? Whereever one decides to enter, it seems history is on their side.