| Author |
 Replies: 23 / Views: 5,269 |
|
Valued Member
United States
497 Posts |
Why the sudden drop? is it going to keep going down or will it go up? I want to invest in some but I'm not sure to wait for the price to drop or to never since I'm not sure if it will go up again.  |
|
|
|
Valued Member
United States
380 Posts |
You had to expect some profit taking right? When metals move up quickly, there will always be folks to sell... Well, give it time... it will be at $25 soon enough. IMO
|
|
Valued Member
United States
364 Posts |
Yeah, this is nothing but good. I was a little nervous last week because a commodity has to have a chance to retreat a bit before going back up, otherwise it is just bubble territory. So have patience, or go ahead and buy while prices are down.
|
|
Bedrock of the Community
United States
14454 Posts |
there are two times the price will fall back. One is when it reaches a high point, I always mark my items that I paid and when it reaches double that I sell those off, no matter if I think it will go higher or not.
Another is when it tanks, if someone paid 15.00 a ounce and it reached 21.00 a ounce but then dropped down to 15.50 a ounce they will (not me) sell off their hoard they paid 15.00 and below to make sure they make a small profit in case it goes lower.
in both of these cases the market gets flooded with the precious metal and since the supply is all of a sudden higher than the demand the price falls even more. That flooded market will run out though and the price will start to climb once again as long as the demand stays the same as it was before those items hit the market. I just keep buying no matter what the price per ounce is and like I said I sell once the price is double what I paid
|
|
Pillar of the Community
United States
1659 Posts |
Personally, I wouldn't mind seeing the price come back down to about $15/oz, so I could buy some more. Buy low and sell high is the name of the game!
I don't think it's gonna come down that low anytime soon though.
|
|
Pillar of the Community
United States
3592 Posts |
If I knew the answer,I'd be a zillionaire.It is always a gamble.
|
|
Valued Member
United States
313 Posts |
Yes it will go up  ...Yes it will go down... |
|
Valued Member
United States
426 Posts |
Quote:
One is when it reaches a high point, I always mark my items that I paid and when it reaches double that I sell those off, no matter if I think it will go higher or not.
Quote:
I just keep buying no matter what the price per ounce is and like I said I sell once the price is double what I paid Hello Bryan! I've thought about doing exactly what you mentioned but I got to thinking, doesen't the money that your actively investing (spending) on silver in current (higher) prices negate the profit that you would be making on the sale of previously purchased silver? I'd like to hear what you think because this is something I've thought about a lot. Thanks! Edited by RealPeso
10/22/2010 7:33 pm
|
|
Pillar of the Community
United States
2269 Posts |
I think the price will rise sooner than later.
|
|
Pillar of the Community
United States
5822 Posts |
Buy low, sell high! Its just like the stock market, the non-conformist don't panic when prices goes down for a time and they just accumulate even more precious metals. Of course, diversification is key, never put your eggs in one basket. No more than 15% of your gross investment should average person invest in metal. This is a hobby, I wont get rich unless I make a big discovery, but I do dream about it once in a while.  |
|
Pillar of the Community
United States
667 Posts |
The first thing I always say is don't invest tomorrows grocery money in silver or gold. It should be a long term investment with money you are not going to need tomorrow. The second thing I don't do it watch the market every day figuring out my gains or losses.
Buy silver every month is only putting a small amount of your investment at risk. Buying it all at one time puts the full amount at risk.
For example I have bought the same amount of silver every month for 15 years. Some of it was bought very very low and some was but at the current high mark. For 10 years the price was $10 or less. The last 5 years has been a wider range but most of those years were still considerable lower than what the current spot price is. Of course the market could make a large correction just like any stock and I am back to square one or a little worse off.
Personally I am still buying silver. Yes it could fall back to $10 or worse but then again I feel it has some more room to keep going strong. Since it isn't tomorrows budget money and I am still young I have some time to plan on when I feel it is the right time to sell.
I probably would not toss all my available money into silver at this price but I certainly would not stop buying at the current price even if it drops some more. I like to spread my risk.
Silver is just a small part of my long range plans and adds the security part that I feel it is secure to have some money in a product that I feel would be worst more than a stock or greenback in a worse case event.
I don't know it works for me not saying it is the best investment strategy. Now I can only hope that silver falls below $10, I still have many years to buy and when it is low I can afford more.
|
|
New Member
United States
11 Posts |
There are at least 2 reasons for buying silver. First is to make a profit, buy low and sell high and all of that. The second is if it is your opinion that our current fiat currency is going to enter a period of massive inflation, then buying things such as silver is a hedge against that inflation with the possible intent of never selling for fiat dollars, but instead to trade the silver directly for services. If the first is your goal, then pay very close attention to the ups and downs trying to maximize profit at each turn. If the second is your goal, then just keep putting every spare dollar into silver and create that hoard.
|
|
Pillar of the Community
United States
1554 Posts |
I would say buy a lot of silver and in 5-10 or 20 years it will pay off. Are you concerned about a quick profit? Collecting doesn't generally work that way....Good luck.
|
|
Pillar of the Community
United States
2335 Posts |
I could have told you silver was going to drop this week. I sent a batch to my refiner this week & get paid based on spot the day it's processed. Every time I do that there is at least a $1 drop in prices.
I really don't think that's a coincidence........IMO the real reason it drops at that point is that I always send metals in for processing after an unusually high/fast run up. Like any investment precious metals don't go in any direction in a strictly linear manner. The trend could be higher or lower but the price graph will always have ups & downs.
|
|
Pillar of the Community
United States
508 Posts |
If your in this to turn a profit, wait for the price to go down before you buy in quantity. Until then I recommend buying a set amount each month so you are still "stocking up".
|
|
Valued Member
United States
487 Posts |
The money I use to buy silver is play money, I make sure that all the bills are paid and use the rest to buy silver. The reason I buy silver is there will be something for both of my daughters when the time comes. Silver will always have value. Its just a way for a father to look out for his cubs.
|
| |
Replies: 23 / Views: 5,269 |
Posted 10/22/2010 12:41 pm
