I tried to convince my sister to buy silver when it was at $13. Now she is considering buying, but I am reluctant to advise her to invest now. I'd appreciate any opinions on this.
hello nationalist. drutter addressed this question recently http://www.youtube.com/watch?v=peyP3wt07mU
A lot of people wont buy unless the price is in fact going up.....she wants to buy ,let her.You planted the seed.
nationalist. welcome to the forum. I'd echo the thoughts of drutter in the video link. The only time I pressure someone to invest is when I'm talking to my 2 kids. However, I'm still in the buyer's market at the moment and probably will be for a while. If it's any consolation, these doubts about timing an entry in the PM market have been around and posted on this forum since I started buying when the price was in the mid 20's, and I'm sure it's been around long before then too. As the price continues to rise, there will be more and more doubt as investors start to examine their holdings and make crucial decisions about whether to continue buying or when to sell or swap their assets to get the best bang for their buck. Watch what the bigger players on this forum are doing (I'll let you work out who they are), they're still buying or "buzzing" and if they're not buying from here they are buying elsewhere, although their motivations are somewhat different as they are traders. They see silver continuing it's rise. Invest for the long term, and then look back when silver reaches $60 and higher and you'll agree $40ish bucks is cheap.
if shes in it for the long run encourage her, but if theres going to be a correction and she turns around to tell you its all your fault, id make it clear that theres that possibility in the short term
I think the safest would be to buy slowly. Silver is in a long term bull market. If she buys some now and for whatever reason the silver price has a temporary downwards movement, then she can buy more. The end strategy to keep in mind is that silver is in a LONG TERM multi year price accent. Further more i would suggest buying the physical product. In addition think about where the AU$ is at the moment. There has been recent correlation between the AU$ and silver prices. If silver has a temporary come back, so might the AU$, so the PRICE IN AU$ might not drop that much.
Thanks for the intelligent responses. This is a great forum. I wish I'd come across it sooner. Up until now I've only been reading US forums where silver stacking seems to go hand in hand with gun collecting and food storage. Well my sister finally decided to buy around $29, and since then she has been waiting for "the dip". I no longer feel confident telling her that silver is "cheap". It probably is, but I wouldn't want her to rely on my advice and purchase right before a big drop. Drutter is encouraging, but I think the decision to buy would be much easier if one was holding $US! I think I'll refer her to this forum/thread and leave her to decide now.
i would be reluctant to advise anyone to buy... the new buyers haven't sat thru the heartbreak of losing more than 50% of their investment like what happened in the GFC.
BTFD no longer applys IMHO, close your eyes and buy. This is just the start of the bull market. we have a long way up to go.
FWIW, And i'm probably telling a cardinal secret for some members here, but there still may be a profit to be made in the junk silver arena, and i don't mean coins but silverware, at markets and op-shops. Bullion is being snapped up, but junk silver isn't yet being hauled in to the refiners yet. There still may be an oppourtunity to stack a bit of sterling before the word gets out into the general community. It's more work...but the oppourtunity is still there.
I personally would find it hard to recommend Silver to others at this price point. Although $60-70 looks like a minimum for thus year, what will happen until then is anyones guess. On one hand silver is so hot right now, seems like nothing can stop it, but when its other peoples money (people you actually know) its best to not get involved
This psychology and hesitation is telling us this is still a "BUY" signal in a 3 phase bull market. Think of Gold and Silver price as an indicator to show us what is happening to our economy at this point in time. China is discussing to reduce two thirds Of Its $3 Trillion In USD Holdings. This will send a signal to the rest of the world that US Treasury Bond is no longer a viable investment opportunity. This action will make the Fed the only buyer of its own BOND, collapsing its currency. $50 will be fairly insignificant when comparing what is about to reveal. I suspect Gold will be on its leg up which will alert the mainstream media in the coming months.
I'm into gold and haven't like silver .but I now think I've been possibly wrong. Suspect silver might just keep going up and up.Maybe $100 on this China possible dump of US Bonds. Mind you,gold will do nicely too. However , might buy silver. Made much so can afford a loss.
I personally think there are more opportunity's in gold at this point, if you look at the recent (1 year) run in silver and gold. The other thing i observe is gold recently has been going nowhere basically and all the talk is about silver these days so i tend to look at alternatives. That said i own both metals and don't plan on selling either just yet
My bro in law, has been asking me wether to max out his credit card and buy the silver ( like a week ago ), and i told him not to do it. he started giving me money ( so far 3 installments $200, $185 and $300 - from mid march ) and now he is hooked and wants to buy even more. same guy who did nothing back when silver was $20 and $22 and $24 and all the way up to $34 and than he decided to jump in. If she loses money, you will be faulted 80% and if she makes money you will be praised 20%. So you are getting negative equity and shouldnt do it. seriously, no one knows where it will go and for how long it will stay there. the guys who have been buying silver when it traded sideways for years are the only worthy being rewarded by the price increases. Its EASY to be a silver bull now, once the evidence is staring everyone in the eyes. everyone do your own due dilligence, money can be made and lost.
This is actually what worried me the most, the fact that your everyday Jo is starting to find out about silver now. As far as buying silver on the credit card, thats about as risky as they come. You would need to be making very significant gains just to cover the interest you would have to pay on the card lol
