Buying silver....

[BFranklin]

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.

[4Horsemen]

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.

[Delaware]

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.

[ItsTime]

you bought gold before silver? oops

[BFranklin]

you bought gold before silver? oops

Why oops?

[Hook]

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.

[ItsTime]

I believe silver has gained more value % wise than gold historically.

Why oops?

[gerryb]

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.

[eric_cartman]

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.

[Delaware]

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.

[derdy]

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

[Danny]

It looks like the IMF is going to start dumping their gold reserves in April, which could cause prices to drop temporarily.

http://in.reuters.com/article/busine...320080209?sp=t...

[Original_Intent]

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]

It looks like the IMF is going to start dumping their gold reserves in April, which could cause prices to drop temporarily.

http://in.reuters.com/article/busine...320080209?sp=t...

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).

[Danny]

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).

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.

[Mr. White]

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.

If it does get down to $500, I know where some of my money is going...

[Danny]

If it does get down to $500, I know where some of my money is going...

Some? If I see $500 i'm going all in

[gerryb]

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.

[4Horsemen]

Notice the bankers can't dump silver on the market.

[mavtek]

http://www.jlryan.com/main/product.a...e=paslv-1ozbar

Those of you in the know this good or bad? Where are you buying from? I can get 500 bars have it shipped for peanuts.

[mavtek]

Of course if you are getting silver or Gold ETF's please let me know which symbols they are on the market as I have not traded in these thus far and am having difficulty finding these funds.

[Archie]

I had a Dream the other day that Gold went down to 720 an ounce and Silver went to 17 an ounce ,In the dream I was so happy and bought some gold/silver only to wake up and Realize "Its only a Dream" HAHAHHAHA!!!!

But serious I could see a big correction like that in the future if the Gold ETF's holders sold Short and many more cash in at Gold at 1200.00 .But even that would only stifle PM for only a bit untill they went on a bull run again due to a buying frenzy at that price LOL!!!!

I think the best strategy is to buy only a few ounce's every week or so because its better to only have bought 10-20 ounces of silver at 20 bucks and gold at 1000 then to have bought say 100 ounce's and that price and then get pissed of at a correction ,atleast buy only having small amounts at high price's you wont feel terrible if you see a correction happen as you would be if you bought 100's or ounce's at todays highs. Have in place a certian $ figure that if it corrects to that price you buy alot at that time ,that way you wont feel burned so bad..

IF you got the money though even buying at todays high's wont hurt you because you have other source's of income . but if your on a strict budget you want to be more cerebrial with your money...


PS aint it pathetic how in the dream I was happy at gold being 720 and silver being 17 an ounce LOL!!! even though when I bought my last silver at 16 an ounce I was whining at how high I paid LOL!!!!!!

[cien750hp]

just for reference, what would you buy if you had like, say, 25k available
just gold and silver? (small) bars or coins or both?
get some platinum and palladium?
how would you reccomend diversifying or what would you reccomend buying.

[pacelli]

just for reference, what would you buy if you had like, say, 25k available
just gold and silver? (small) bars or coins or both?
get some platinum and palladium?
how would you reccomend diversifying or what would you reccomend buying.

If I had 25k to invest in metals, I'd personally go with a diverse metals portfolio.

[gerryb]

http://www.jlryan.com/main/product.a...e=paslv-1ozbar

Those of you in the know this good or bad? Where are you buying from? I can get 500 bars have it shipped for peanuts.

I recommend Apmex.com

DO NOT invest in paper ETF's. Bear Stearns is proof of what happens to paper....

[Mr. White]

http://www.jlryan.com/main/product.a...e=paslv-1ozbar

Those of you in the know this good or bad? Where are you buying from? I can get 500 bars have it shipped for peanuts.

When I finally started researching it silver was at 14, I piddled around and finally took the dive around 19. I usually started comparing price over spot at http://apmex.com/ They had a wide variety of refiners and you saw some competition. If your looking at getting 500 oz, I'd get a couple 100 oz bars for the simple fact you safe on the price per oz. Keep in mind though that you have to sell the thing all at once so it's a bit more of a commitment.

[ghemminger]

Get to know your local Dealers - Shops and start buying.... Ask what they reccomend and come back to the ones that give you the best deals

Good way to get into collecting and make friends - this is long term wealth accumalation

[GoPaul08]

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.

1. Silver is not going to shoot to $200. Don't be ridiculous.

2. The risk is that if he DOES wait and it goes down to 17, that is 15% more ounces that he culd purchase for the same amount of money. then when it goes back up, it is 15% more money that it will be worth in the long term. He is not worried about losing money on the purchase. He is worried about losing EXTRA profits.

[buffalokid777]

Too bad you didn't buy in a couple of years ago.

I did....goodbye 401k and hello silver and gold when gold was $450 oz and silver was $5 oz.......best financial move I EVER made.........

You will make MORE in silver over the next 2 years........after that GOLD WILL BE KING.......

Make sure to take advantage of silver now.......and 2-3 years from now understand why it will be time to trade the silver for gold........and when you see it if you understand it....do it......that is how the wise will make the most........

[ghemminger]

I did....goodbye 401k and hello silver and gold when gold was $450 oz and silver was $5 oz.......best financial move I EVER made.........

You will make MORE in silver over the next 2 years........after that GOLD WILL BE KING.......

Make sure to take advantage of silver now.......and 2-3 years from now understand why it will be time to trade the silver for gold........and when you see it if you understand it....do it......that is how the wise will make the most........

Nice foresight buffalo - please tell us more