Look at prices in the week after 4th and 5th April which are Chinese holidays....if a low to beat these lows is to come I reckon it will happen then imho
Still waiting. Finger at the trigger. Not now yet. Why?? Not too sure. I have enough pm at the moment. Will scoop when the right time come. Waiting for it to crack 27 then down she goes or bounce she goes; very hard to say Im only junior here on my own assumption. Have been about 5 weeks now. 26 buy abit 20-23 will scoop more. Maybe in afew years time.
Last week and this week, +1 kilo silver as 45 90% junk coins. Total over the last 2 months: 137,5 ounces / 4277 gram as Philharmonikers, Maples, Polar Bears. 175 / 4277 gram as 25gram 90% junk coins. and 5 various 90% coins. All together, +8214 gram silver Between mid august and january, I bought near to nothing. Bye $35 Bye $34 Bye $33 Bye $32 Bye $31 Bye $30 Hello $29 swap all the euro's!
I remember some1 saying the same, in 2011 at $32. He ended up ordering at $40. That's the problem with hesitating. Look at all those that hesitated in the summer of 2012. Look at the US Mint ASE sales september onwards, as 1 example. Dollar cost avering is indeed a poormans method. Doing things that are easy (a blind swap of a fixed amount fiat regardless price), often puts one on the losing side. Simply because some others do more effort, and their gain origins from those using the easy ways. And WE are the market. All our personal situations together.
Well it is on the way down now so you can either dollar cost average all the way down or you can hold onto your fiat and try and time the bottom. I have had reasonable sucess picking the bottom, it generally happens when I have run out of fiat. I think the thing to be mindful of is not whether you think it will be cheaper next week but whether you think it is cheap enough now. From what I can gather most people are adding to their stack as a secondry investment or as a way to preserve their wealth, not many people here seem to be investing on an industrial scale. If I bought an ounce of gold now, as opposed to yesterday I would have saved myself $11, maybe if I buy it tomorrow I will save another $11, or maybe the freefall will stop and I won't save any money and maybe it recovers a bit and I pay an extra $11. At the end of the day we are only talking about a couple of cups of coffee. If I was buying 100oz then I would be more concerned about hitting the absolute bottom of the market, and I would probably have charts and software and spend hours listening to all the pundits and reading all the books, blogs and emails. There are probably quite a few examples of Dollar Cost Averaging and most people will pick a time frame to suit their viewpoint, I will just give you the example from my own experience over the last year as spot has been falling from a fairly high price (but not the top) I have been adding (Gold, as GSR <55) to my SMSF for about a year now, I started buying an ounce a fortnight or so, prices were flat so if I missed a week (or month) it didn't really make much difference. So far I have bought 15 ounces. The first one cost me $1736, and I could have bough all 15 ounces on the spot for $26k. As it was I only bought one (damn paperwork). Then it started going down hill and I have been buying all the way down. My dollar cost average is $1650 and I have saved $1.3k. Nearly a free ounce. Of course, if I knew then what I know now I could have held off any purchases and bought all 15 oz last week and saved $2.6k. As has been previously stated this only works to your favour if the prices are droppnig so I got lucky? 50:50 that it would go up or down? The thing is, although I would really like to have held off and saved that extra $1.3k, I am not upset by it. I made lots of small decisions instead of one big decision, much less stress as the sum of all the small decisions is not the same as one big one. I was doing something to improve my future every week or so. Sitting on my hands for a year, not doing anything while all the current events were taking place would have frazzled me by now, waiting for something to happen, the constant spot watching, the fear of losing the money to the banks and having money slowly losing value would have left me a nervous wreck. As the prices have dropped I have been buying more frequently and will be buying at the end of the week as well. But as the GSR has changed I will be buying silver, speaking of which, I bought a kilo for the SMSF when I opened it, cost $1060, I have bought three more kilos on the way down, dollar cost average is now $965. I should be out of SMSF money in a month or two, after that, spot price can do what it wants as I will no longer be an active participant.
I don't even know what I do now. Dollar cost average? Buying on dips? Picking the bottom? I feel like I just throw money at Gold and Silver. I've not gained from them whatsoever. If I had put the money I have put towards Gold and Silver into a savings account over the past two years, I'd be a lot further ahead. Strange.
The advantage in having your money in PM's is that it's less accessible, a saving in itself. Meanwhile, as both gold and silver have been fairly static these last few months, what you are losing in fiat interest you are making up in CPI.
I hear that, now try telling your wife you pulled all your super out of the industry super into a SMSF so you could "take control of your own financial decisions". The money I haven't yet got around to spending on precious metals earned about $600 in interest in the interim. I am just glad I am not doing it with my own money! I had already written off the Super fund as money I would never see again. I have stopped adding to my personal investment stack, it makes more sense to pay down my personal debt at this time.
Forgot to add, 'dollar cost averaging' on the way down and 'catching a falling knife' are seemingly at odds with each other but dollar cost averaging is slightly less irresponsible apparently http://forextrading.about.com/od/forexfaqs/f/catching-a-falling-knife-in-forex-trading.htm
We might all kiss our super goodbye soon if Julia gets her grubby mitts on it. But I don't have any personal debt now, I guess that's why it's probably not a bad thing chucking it at metals.
Well done on not having any personal debt, I guess if it is a choice between money in the bank, topping up your super fund or buying precious metals whose value is falling by the minute I would probably go with the metals as well, never has the phrase "If you don't hold it you don't own it" been more obviously true. Actually that would make a good slogan for a 1oz round.
Silly billy - should be in USD - move now!! - roman is right => USD FTW (it's backed by the US government donchaknow) [youtube]http://www.youtube.com/watch?v=UZXX5i8tj5s[/youtube] (apologies - it was such a stupid video I just had to see it again)
Probably the most pertinant statement I have read this week: Source: http://www.dailyreckoning.com.au/trade-the-market-like-a-stoic-philosopher/2013/03/27/
