Gold under $1500 for a few days and silver now well under $18

Discussion in 'Bullion Investing' started by myownprivy, Sep 13, 2019.

  1. myownprivy

    myownprivy Well-Known Member

    Sometimes the best thing to do is nothing.

    So those prices didn't last long, did they? Just for the summer?

    I hope no one bought at $1520 thinking it would be $1600 by the end of the summer. I hope no bought at $18.50 hoping it would be $20 soon.

    For those of us who didn't buy or sell at all during this summer spike we're in pretty good shape, relative to prices last year or the year before. Still about $200 up on gold per ounce and about $2 up on silver per ounce.
     
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  3. Kevin wu

    Kevin wu Well-Known Member

    I have bought some gold at 1520 and silver at 18.50 , you don't need be panic when gold and silver go down or up in short period of time , you need looking long pictures of the gold and silver , i don't worry too much if and gold and silver go down to 1200 and 14 again , if you worry to much you shouldn't buying any gold and silver , just hold cash .
     
  4. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I wouldn't worry, it will start upward again soon, and then go back down. Like earthquakes, the aftershocks can be up and down over and over. Hold your cash until you figure things in the world is somewhat stable again, and then buy or sell to you advantage. IMO, Jim
     
  5. pmbug

    pmbug Member

    Yeah. Same goes for equities, bonds and crypto.
     
  6. EdThelorax

    EdThelorax Well-Known Member

    I believe that accumulation is the way to go.
    I like buying about the same dollar amount of silver every month. It is similar to cost averaging, but a little better.
    If you buy one ounce of silver a month, your cost average is the total/12.
    The average of $15 and $20 is $17.50.
    if you spend $30 per month, when silver is $15 you get 2 oz, at 20$/ you get 1 1/2 oz. the average of $15 and $20 is $17.50. In the above example, you would have 3 1/2 oz for $60 or (60/3.5=17.14) or an average of $17.14.
    If you keep accumulating, in less than a decade you will be very glad you did.
     
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