I saw last week as a sign silver may be on a more steady upswing and was trying to decide when is it time to slow down my buying of bullion. I still continue to buy at this current price, but have to question when should I slow down, and save or wait till I see a great deal to make more purchases. Silver and Gold have shown some serious signs of recovery over the last week, but I also noticed people talking about technical buying and that is the concern I have. What is true...?
I follow the $x per month system. I allocate however much I want to spend for the month, and I buy a little here and there throughout. If silver's down, I get more oz/dollar, if it's up, I get less. Over the long run it just keeps accumulating and averaging out and that's all I really am concerned with. Unless you keep detailed records you'll never remember 5 years from now what you paid for spot on that particular bar or round on the shelf.
You are making things much more difficult than they need to be. Why don't you just dollar cost average? Then, you don't have to worry about the best time to buy. Over time, dollar cost averaging is a nice way to have steady growth. Sure, you will probably never hit a "home run", but you won't "strike out" either. P. S. I just noticed my comments were posted at the same time as Prime Mover. I second what he/she said.
Actually, I kind of hope they move up. I have spent most of my "coin money" the last few months buying pm, like US gold and junk silver. I am kind of looking forward to buying ancient and collectible coins again, which I will do if PM moves back up. That, and I need to slow down all coin spending for a bit.
I'm a newly minted Silverbug, I bought my forst oz last month, and will stop buying at $25. I love a bargain!
Congrats on joining our elite group lol, Gotta start somewhere and it sounds like you are heading on the right track.
I truly believe if you want a long term investment silver is at a great price to buy this debate is the whole reason i started my youtube and joined this forum Its a buyers market and time to get STACKIN!
Personally I'm hoping that silver will dip again into the high teens so that I can purchase more at those levels but I can't help but to stack a little bit in the low to mid twenties. Now if silver recovers to the upper twenties I think I would slow down and stop buying if it reached $30 an ounce.
Right now I'm really into the 5 oz ATB bullion coins!! But if silver starts getting close to $30 an ounce I'll probably hold of on buying them. I've already bought my 2013 bullion coins and need to start saving for the 2014 coins!!!
