I'm curious why anyone is buying anything in the last few weeks

Precious metals are up significantly in September, so why are people buying?

Don't we assume from recent history a month from now, two months from now, three months from now, that prices will fall back to the $1200 range for gold and $16-ish for silver?

So, why are you wasting extra money right now buying?

Things will slow as summer comes to an end. A new rate hike might be announced, and people will put their money back into interest earning accounts and buy fewer precious metals. Then that's the time to buy.

I know I'm not the only one aware of this.

 

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The only purchase I have made in the last 2 1/2 months has been a tube of ASE's. I traded some junk 40% silver to help bring down the cost significantly. I agree with the OP not a good time to buy or sell. The dealer I go to said he doesn't want to buy or sell right now either. He has to continue buying and selling but his buy/sell premiums are not as good as they were a few months back.

 

Currently it's down to $17.67, a $.21 decrease from yesterday's close. Down almost $.40 from it's peak last week. If you're not buying then you believe the price will drop. I not buying and that is why. If you're buying, you believe the price will continue to rise. I believe the price went up as did gasoline ($.60 in 2 days in my area) all due to a hurricane.

Precious metals are traded around the world. The US is not the only place to buy and sell them so a lot more than your post goes into the price. Look at a larger view of things that affect the price. Then you will see why the spike. It wasn't just a storm that drove it up.

 

Shazam! It must be because stackers are stupid.

 

Because it is cheap compared to what it should. Because Summer usually is when silver dips. Because investing in PMs should be done by daily cost averaging. Because silver (or gold) has never been worth zero. Just to name a few.....

 

Geopolitical instability (mainly North Korea) and the cooling off of the USD...?

 

I buy gold when I see an advantage (at least in my mind.) Right now, its in a no man's land, so sitting chilly.

 

I bought on ebay a BU peace dollar considered as bullion for $26 dollars regular price, but i had a coupon that was for $15 off. That's the only coin purchase I've made recently.

 

IMHO, attempting to time the market for anything is kinda like wrangling a water bug.

 

True. But buyable dips and sellable spikes will occur. One has to be personally arbitrary about those levels.

 

Cheap? Nobody here is buying and it should be cheaper. DCA is not a strategy either.

?

 

"I'm curious why anyone is buying anything in the last few weeks" - OP

Because "Maffs" (math). (lol)