I'm about to make my first silver purchase so I'm new to this. I have been reading on this site for a while though. Of course there are the two million dollar questions that I'd like to get peoples opinion on? When & What? When- I am thinking of waiting for the silver price to hit closer to $25-$26 an ounce, does anyone think that is possible in this climate? What- I am swinging towards 1kg PM bars at the moment as I'm looking at buying around $20k - $30k first of, then maybe more later. Any opinions appreciated.
In my opinion, I think it's very possible it could drop to 27 and maybe even 26 but if it does it will be for a very short amount of time, and then we'll see the rise to the next peak and won't ever see silver price that low again. But it's difficult due to so many factors in the silver market, the trading price of silver is so far off what it should be in a free market.
dollar cost average from 29 down to 26. spend $5k ($20k ) every dollar silver goes down. if it goes lower spend another $5k every dollar till it settles around $22-$23 ($15k-$20k). Average buy in will be anywhere between 24 and 26ish not taking into account premiums if you go physical (which you can prob get back on resell). go 50% Physical (LT) and 50% ASX:ETPMAG (ST) for quick sale if there is a spike to US$35. Don't go all in $30k on one sale unless you have another $30k you can average in later if it goes to shit at -20% or worse. Maybe you were the $25 million lotto winner? if so, go for it. Physical is good if you believe in the conspiracy theory that the government run paper money will explode into a ball of flame leaving only the people with hunks of metal as leaders of the new world, but in reality it's just another way to store 'perceived' wealth. Also, most importantly, dont listen to people on the internet, DYOR
Yep, and I'm waiting for the same. Plus waiting for the usual dealer premiums to be reduced always takes some time.
that's a lot of money to be throwing around if your just starting out, my advice ease in hang around here watch markets find dealers and most of all make sure you wont need that money for several years, lot of people dive in head 1st and end up splitting their head open on the bottom.
I hope it keeps dropping to the $22-$23,As i seen a report other day about the head and shoulders theory,he predicted it will drop down to around $22-$23 mark before it rockets to about $60-$70.He also said this when it was still stable at around $30 mark.Hope his right,I am waiting till then before i top up some more,fingers crossed.
