hi all, as I am still very green when it comes to buying silver only got around 100 oz since I started this year, at what price do members stop buying silver? what is cheap what is expensive?
No price. Silver might be $1,000 an ounce. You sell an ounce for $1,200 and then go out and replace it for $1,100.
Ive stopped already, but im a terrible market timer, the price usually plummets after i bought, but if i wait, spot just keeps on going higher
Depends on many factors....mainly, understanding what's your game plan will give you the answer. If you, like many stackers, are trying to accumulate as much precious metals as possible (hoping for the best but planning for the worst) and you believe PM's are at or near the end of the bear cycle, then for quite some time, silver may still be a bargain and many stackers will continue to buy without hesitation. A bull cycle in PM's may take several years to mature....no one really knows for sure what the markets will do mid term. Long term, I think it's quite safe to say that bull and bear cycles will forever be. For me, silver priced at under about USD $35/oz or so is a better price than what I started stacking at. So the past few years have been a bargain bonanza and so long as I can see prices rising (which I do), I'm going to keep on buying as best as my budget can allow me. I like polished silver....it's shiny! .
You stop when you hit your target. I've been stacking since 2012 when the price was over $30 an ounce but because of all my buying along the way my average buy price is around $22 an ounce. Accumulating over a long time also help blot out the market noise and general BS predictions every man and his dog seems to make.
It's a very hard question to answer. It really depends on your overall strategy. Did you chose to invest in PMs to make a quick buck or to accumulate and hold long term? Silver was cheap to some people that had bought it at $5/oz while others thought it was still a bargain at $40/oz.
I stopped buying physical silver about 6 months ago. Will consolidate some semi-numi stuff over the course of the next 12 months. I'll only buy more physical gold if the spot price breaks about $2000 USD and I sell my gold miners to pay for it.
If you are planning on making money, think of it as day trading, buy and sell when you think the price is too high and but at the moment. Compared to just holding it will increase your wealth. The easiest way to do that is by unallocated PM account. To me selling and buying physical PM is a chore.
Unless this pullback continues significantly I think I'm pretty happy with where I stand now. My average price is roughly $21-22 on silver, I went in hard at the right time early this year/late last. If I see it back down to those levels I may buy again but I suspect premiums will be up at that point anyway. I may sell a few things to consolidate my stack to be a bit more homogeneous at some point but I reckon if you didn't buy this dip then you may have missed the boat on sub $30/oz silver (with premiums).
