The question is at what price you stop buying(and feeding into this to make the price go even higher)...
Personally, I plan to do one more buy if there's a pullback. SS are price sensitive as we are too used to buying at us$15-us$20, after premiums. Newcomers may not have such inhibitions, and certainly manufacturers will need to buy even if silver is us$50. This kind of inhibition is in fact good for preventing FOMO. This is why I make a point to buy a little of everything when the price is low, so that I won't be hit by FOMO. It's a simple investment strategy that doesn't need much skill or mental control. Buy when it's cheap, don't chase and sell 50% of it when the investment has tripled or quadrupled and the rest is house money.
I was buying and bidding for 10oz engelhard bar for $108 then $220 etc back then was in USD now 10oz going for $400 AUD then >++ XAG 5oz was like $168, now its $223 with stocks 29 units may need to adapt to the new prices each time
A more interested question would be: what are you gonna do with the dollars you got in return for your silver. Parking on a bank account, with a crisis planned soon, and with since a decade clearly communicated rather low (less than half house price) "state guarantees" under a certain limit, the risk is clear. It's also quite possible that in the next crisis, bank accounts will be even more limited in usage, especially on opportunity moments, you know - those to buy back in low. Just look at earlier this year, the silver price was driven to a record low, yet I've nowhere seen silver for sale at less than a couple euro's above what I paid at a higher price couple years ago, with my currency about the same. Based on this topics NOW-<void>-$38-NEVER option range, and now being $28, I'd say $28+($38-$28)/2 so $32.
As an example, in Australia you could buy: June 2013 - 1oz Silver Kookaburra 2013 - $28.22 May 2014 - 1oz Silver Saltwater Crocodile 2014 - $24.39 August 2014 - 1oz Silver Lunar Goat 2015 - $31.70 June 2016 - 2015 Australian Kangaroo 1 oz - $28.85 April 2017 - 2017 Australian Silver Swan 1oz Bullion Coin - $36
Already sold it. Picked up some other precious metals (lead and brass) with the proceeds and soon to be a engagement ring Edit: Lead and brass obtained legally, ASIO please don't come and van me
I brought 2 10 oz bars on March 16 for $226.7 each right at the bottom, now a 5oz bar is going for $226.5 on bullion now, it was the last 2 bars in stock same brand and everything.. granted a premium on the 5oz vs 10oz.. but still half the amount for the same price.... roughly. That's a fairly good performing asset! not really sideways... gold has broken highs, silver is sure to get past USD highs.. so that's well past $50 AUD the way it is at the moment. granted that was cherry picked silver, but still.
usually due to collectible, the 5 oz bar usually sell for the same $ amount as their 10 oz counterpart but this is a new normal after covid19
I can cherry pick stocks or cryptos over the same perios that have done far far far far better silver has gone up -- everythign has gone up silver has gone up LESS than other things still in you same time frame I could have bought afterpay ( or many other stocks) at $9 share and today I can sell it for over $70
⁸fair point I guess. But silver is no longer sideways. it will be interesting to see where it goes in the future. If you make 100k on after pay and want to put it into silver you would wait a decent time to get it. the more people doing that... and there will be, the longer the wait. until they can no longer guarantee the metal
Yeah looking back at stocks you could have bought is easy but silver is easier at this point. Setting records everyday baby! Theres a reason PMS are the best performing asset so far this year. Ride the wave while stocks lose to inflation. Yeehaw!
It's different. Stocks and cryptos can go to zero. Silver is forever. Bury it in the ground, someone digs it out 100 years later, it is still valuable.
And the bull run is just beginning for metals, havent seen ANYTHING yet. If you cant run with the big dogs, better stay on the porch!
I’m sitting tight, no selling, no buying. I didn’t get into stacking to sell out if the price went up a bit. Today’s world is exactly what we were Insuring against.
Too many emotional people with thoughts allover I do very little thinking as I follow information off chart with technical tool for guideline. my mind is too busy with family time & what to make for supper.
Theres a correction coming alright and its already here. The correction is UPWARDS, the direction its moving now. Other than this dont expect many meaningful drops anytime soon. It's got some catching up to do before that happens. It's already blown through points of resistance with little or no concern so expect some more of this before its over. The socialist Republicans have replaced the socialist democrats as the party of fear and preps. Trumps first full term has seen more gun sales, toilet paper sales, homelessness, unemployment, lost jobs, failed business, bullion sold out, police state and freedoms taken than any other before him. He must be proud making america great again! Total fucktard.