I am s'posed to be selling? - thought this was a long term thing - especially for recent investors. Good on those that made a profit in the last few weeks who bought a lot earlier at much lower prices.
What Nugget said PLUS 4. When major governments of the world STOP PRINTING FIAT like it's going out of fashion.
Grr I should've had * when interest rates provide a positive return after inflation & tax. This is what killed the gold bull run last time. 20% + interest rates. Long term bonds or term deposits are worth considering.
My rules for investing: 1) Just after you buy the price will drop because you can statistically almost never pick the bottom. 2) Just after you sell the price will rise because you can statistically almost never pick the top. 3) Have a plan other than to get rich otherwise your emotions go up and down with the charts. Therefore buy when you are happy to buy regardless of what happens after that. Therefore sell when you have met your goals or other triggers, don't get greedy. Have an actual plan like: I will sell after it reaches X% or after X years or if it drops below.. Then the chart up and downs do not matter. All that matters is when it crosses your lines. Also don't speculate with any money you actually need.
Do not despair people, bet one ounce ( sorry, only one- I am not a gambler) we reach $60 by end of year To optimistic? no at all, to realistic
I think I got in too late as well, on the advice of a family member who's been stacking PMs for a while. I'm bullish in the long run based on the fundamentals and my expectations of medical and electronic technologies in the future, but I rushed in out of fear that I'd miss silver rocketing up instead of waiting for a dip. I've got enough now that mad bulls won't frighten me, and I can be rational and just back up the truck when a dip or bear market coincides with me being flush with fiat. I'm a young student, so I can afford to look into the long term and occasionally make mistakes. My current savings are miniscule compared to my future earnings, and even if the extreme bears are right and this is just another bubble that's burst, I can be fairly confident I'll still be around in 20 years for the next one.
I hasten to add that I think that anyone who bought at the recent peak will still do very well for themselves. The PM bull still has plenty of gas in the tank. We aren't even on the mania phase (yet). Maybe the take away lesson is to refine your investment plan. Some may have to actually develop a plan! But please, apply some thought.
Just remember, as with paying capital gains if you sell for a profit, the reverse is also true. Any losses you make on a sale, say buy at 50 and sell at 40, you also get to claim a tax deduction against your income. Staying legit has it's benefits as well.
just to clarify, it's not a tax deduction, but a capital loss, which is carried forward to offset against future capital gains.. important distinction!
