| Author |
 Replies: 23 / Views: 2,808 |
Page 2 of 2
|
|
|
|
Pillar of the Community
United States
808 Posts |
 With all of the Greece craziness, CNBC is projecting the Euro is headed down to $1.25 or less and the US dollar rising fast. All signs that this PM price dip is far from over. Sel has it right...dollar cost averaging is the right play. |
|
Valued Member
United States
264 Posts |
Gold is going to plummet! I agree!  My only fear now is that Ben Bernanke will say something negative about our banking system. |
|
Pillar of the Community
 United States
5862 Posts |
Quote:
You are doing fantastic with 2 monster boxes an the 90% bags, an now five oz. of gold. A real solid start as most could not come up with that much in that short of amount of time, well done.... Glad you approve! I feel like I'm making up for lost time as I (repeatedly) kick myself for paying no attention to gold and silver whatsoever back when it was so much cheaper. Of course, back then I figured it would always be cheap and therefore would make a lousy investment. As for doing it in a short amount of time, what can I say? We had the money and were trying to figure out the best way to invest it. You guys have convinced me that PM is the way to go, at least within reason. I'm still not prepared to convert our life savings, but anything extra we have each month is basically now going into PM instead of the savings account. My wife is funny about it, though. First, she will tell me to hold off buying anything else until the end of the year when prices could dip like they did last December. The next day, however, she'll tell me to buy some more silver if it drops below $28. I should mention, btw, that she works in the financial industry (obliquely, not as a trader or a fund manager or anything like that) and she is becoming more and more convinced that the dollar is headed for a crash that will cause our savings to be severely devalued. She's not willing to "bet the farm" on it, though, hence the constant indecision. If we knew for sure that the dollar was going to crash, we'd convert our son's fully-funded college fund into PM as well. We dare not do that, though, in case we're wrong... |
|
Pillar of the Community
United States
3670 Posts |
Never a bad plan to NOT pull all of ones eggs in one basket, it is that simple in the end. Just to be safe as anything can happen and one major new war or natural disaster could tip the scales back in PM's favor fast. So I would say to you an all, just keep doin what ya doin....
Edited by Silverhawk74
05/14/2012 1:15 pm
|
|
Pillar of the Community
United States
1026 Posts |
Well like I said I said to myself no more silver but of it dips below $25 I may have to buy more :)
|
|
Pillar of the Community
United States
5862 Posts |
Hmmmm...
Strangely enough, after the initial drop this morning, gold and silver seem to have plateaued the rest of the day so far. I was expecting the normal 10:00 market manipulation, but it didn't happen.
|
|
Pillar of the Community
United States
4008 Posts |
Barry and Bruce... I want to thank you guys for being the canaries in the PM coal mine. You just don't know how incredibly valuable you guys are to the rest of us!  Gold is looking pretty good to me too but I am now trying to decide between coins and bars. Those Credit Suisse 1-oz. bars and their $21 premium are looking really good.  |
|
Pillar of the Community
United States
1454 Posts |
Quote:
Barry and Bruce... I want to thank you guys for being the canaries in the PM coal mine. You just don't know how incredibly valuable you guys are to the rest of us! That's harsh, Ed. LOL. But the good news for you guys, and the rest of us, is that we KNOW PMs will surpass the paltry prices we see today. You never truly lose unless you sell low. |
|
Pillar of the Community
United States
648 Posts |
If silver drops below $25....well..at least do it before I go to the coin show this weekend!!!!!!
|
|
Bedrock of the Community
Australia
21788 Posts |
Silver will have to drop below about $9 for me to loose any value on the bullion content of my (numismatic) collection.
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
That's harsh, Ed. LOL. But the good news for you guys, and the rest of us, is that we KNOW PMs will surpass the paltry prices we see today. You never truly lose unless you sell low. Hey, they are the guys who are saying that PMs *always* go down in price AFTER they buy. I'm just saying that there ARE some benefits to their noble sacrifice. Selling low is not good, whether it is PMs or some paper investment. This should remind us all that money invested in PMs should be long-term money that can be held for a long time just in case the PM market stalls out on us. I don't expect that but it has happened before. |
|
Pillar of the Community
United States
2661 Posts |
Quote:
Selling low is not good, whether it is PMs or some paper investment. This should remind us all that money invested in PMs should be long-term money that can be held for a long time just in case the PM market stalls out on us. I don't expect that but it has happened before. For my benefit I hope it goes (silver)to around $15 and stays there for 3-5 years so that I can re-accelerate my buying of bullion again. I slow my buying when it hits $25 in order to preserve my profit potentials. |
|
Pillar of the Community
United States
5862 Posts |
Yep, I'm definitely in it for the long haul (assuming no emergencies that require immediate liquidation of funds). The thing is, though, that I'm betting on PMs being worth significantly more in 20 years, and that's by no means a sure thing.
If PMs are at their current level in 20 years or, heaven forbid, significantly lower, I'm really going to feel really bad about all the silver I bought at $35 and $31 when I could have waited a month or so and bought it at $27 instead. Worse, my wife is going to make me feel really bad about it...
|
|
Pillar of the Community
United States
1454 Posts |
Quote:
For my benefit I hope it goes (silver)to around $15 and stays there for 3-5 years so that I can re-accelerate my buying of bullion again. I slow my buying when it hits $25 in order to preserve my profit potentials. Tim, You and I are of a single mind on that issue. Silver above $25 is hard to digest for me. |
|
Pillar of the Community
United States
3670 Posts |
I am with Ed, as I am hangin out deep in the coal mine until the canary dies, then I am headed topside fast if still possible, rof ..... |
|
Page 2 of 2
|
Replies: 23 / Views: 2,808 |
Page 2 of 2
|
First Page
Posted 05/14/2012 11:49 am
