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<p>[QUOTE=&quot;InfleXion, post: 2137889, member: 29012&quot;]Supply and demand don&#039;t mean much with precious metals. The supply is electronic, and the demand is leveraged in both directions. Trying to discern what is true in the marketplace would be like trying to measure how deep the ocean is with one eye closed looking at the surface of the water.</p><p><br /></p><p>Precious metals were money for a very long time, and I believe their value will ultimately be determined by the amount of currency in circulation divided by the amount of the respective metal on the open market. I think it&#039;s important to being willing to hold your position as long as it takes for metals to regain monetary status. If you&#039;re not willing to do that, then you probably shouldn&#039;t invest in them lest you be driven to sell at an inopportune time when the next fad comes along. Using the current price as a baseline for comparison is only valid for as long as metals are not money.</p><p><br /></p><p>So if you believe metals are not money, I couldn&#039;t tell you when the right time to invest is, but if you believe they are then the right time is anytime you can trade fiat currency for real money to the extent that you are not overextending yourself. It doesn&#039;t do any good to be in a position where you have to sell when you don&#039;t want to.</p><p><br /></p><p>Personally I avoid all derivatives of precious metals because they are leveraged, and if everybody who owned them cashed them in there wouldn&#039;t be enough to go around. I also avoid miners because miners are not going to profit for as long as the price is determined by proxy.[/QUOTE]</p><p><br /></p>

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