My buddy just got me investing into silver(he got in at about 20/oz). I have a low income but have been able to gather 11 oz so far in the past couple of weeks. Do you think its still a good time to invest or should I wait for the prices to come back down? Thanks, Adam
If you expect the price of silver to "come back down" why would you buy silver now (when the price is higher than you expect it to be later)? Buy low. Sell high.
No one really knows. Yes, some believe, some hope, some try to convince others with political slants, some think the peak is here within a dollar or two, others think it will eventually double. others expect it to tank by March, June, etc. If I knew 100%, and I am no novice at this, I could be a billizillionaire by Dec. 21, 2012. If you watch the prices of silver carefully, you might/ probably decide that it is manipulated by financial forces way beyond our ability to influence. Jim
Too late? I don't think so. While I'm not a big buyer at $31/oz like I was at $18-$19/oz, you still have time but must be more careful. Silver should reach $40/oz by 2012. Just MHO.
Nobody knows for sure. PM investment (like most investment) involves risk, sometimes substantial risk. If you have a "low" income as you state, it may be better for you to pay down your debt or invest in yourself (education/training) to enhance your income. Otherwise, you cannot really go wrong with buying a few ASEs. Good luck to you! :smile TC
I don't think it is too late. Silver will definitely fall someday [probably by a lot], but it might be from much higher levels than anybody expects. My personal estimate for a long time has been that $20 will be the new floor [this might turn out to be low], but that the path of least resistance for the price is UP for now. So I think you can expect gains on your investment, but they won't be easy to hold on to. As for waiting until after the price collaspse, keep in mind that it could be a very long time until silver has another bull market like this one. You may not live to see it. Folks who bought tech stocks after the crash in 2000 are still waiting for their "bargains" to make them rich.
There is still silver in circulation. Why buy bullion when you can get circulated coins for face value. If you've got the time you can build your very own bag of junk silver. It took me a few months but I did it.
