Is it a good time to invest in precious metals? :confused:
Printable View
Is it a good time to invest in precious metals? :confused:
If you are going to invest in precious metals for the long term then any time is a good time. The price has stayed relatively steady this year in the high 20's and low 30's. I'll just say I bought silver 2 or so summers ago at $18 and some more recently at $30. It is completely unpredictable and sometimes you just have to hold your nose and go all in.
Yeah, trying to ride the ups and downs will drive you crazy.
If you want to put your money in a place that will retain its value, then yes, it's a good time to buy. If you're looking to make money, I'd say you'd still do alright. I expect an increase in relative price early next year.
If you have none at all , yes.Quote:
Originally Posted by TER
Oh, did we mention to get the real metals? You want the stuff you can hold in your hand and put in your safe. You don't want the papers that tells you your metals exist.
Thanks for the suggestions!
I think so, its been pretty quiet the last 6 months or so. Don't wait until it starts moving up. Just my opinion. You can always just start small and buy a little over time.
Just my guess , I would expect movement upward first quarter of next yr.
What are your goals and how long do you intend to hold it? Do you expect it to be worth more in the future? If you are looking for something short term- don't. It can't be predicted short term. If you think it will go up in the future, yes, it is probably a good time to buy. Is it the "best" time to buy (meaning is it at the bottom and only going up from here)? Nobody can say. Can't tell a bottom until it is already passed. It could go higher in the future- it could go lower. The reason time is important is that more time will give you a better chance of riding out any declines which may occur.
My prediction, which is good for a makeshift doormat if you print it out: breakout and prolonged rise around mid-March, followed by a massive correction and an entirely new floor, below which it will never again descend.
I'm looking to have it around for many years, like part of a retirement portfolio, or in case of a national emergency and I need to get out of the country ASAP. Hopefully, I will have no need for either of these reasons and will instead (God willing) pass it on to my grandchildren.Quote:
Originally Posted by Zippyjuan
Interesting. I guess time will tell.Quote:
Originally Posted by Steven Douglas
I think right now is a fantastic time to buy.
Both Gold and Silver dipped last friday and are at decent prices right now. December is going to be a rocky month, should be good for PMs.
In the long term it's a great time to buy regardless.