Thoughts? My $0.02 Who thinks the lows are in for gold and silver? maybe! Agree in a market collapse everything will be sold I believe one should always keep some "dry powder" available for any "blood on the street" type situation.
Sammy you know I like you so I'm not making a smart remark. But what happened to silver price last year when we were waiting weeks if not months for Perth Mint 10 oz bars? Same I was told with some other makers overseas.
My $0.02, they might drop a little more but not in a meaningful way compared to the rise we're hoping for later. No real point in waiting for a super low price IMHO. Better to be safe and not being caught with your pants down.
No idea, I usually only buy F2F, even from bullion dealers. But I believe if you ordered and paid, price was locked in. Depending on when last year, months down the track, price was either up or down. If you don't hold it you don't own it cliche kicks in then, you lose the opportunity to sell to either make a profit or avoid the dip. My original point was, is you want it, buy it now. If you think spot will drop considerably, then you are smarter than all the other stackers out there, then let everyone know, shout it from the rooftops. Some people out there are waiting for dips to buy, but usually the differential, even at 5% is meaningless if you are stacking for the long term. If you are second guessing the market you can end up second. Your point about waiting months for the Perth Mint is an example, a week earlier, you may have not waited for 10oz bars. I might appear bullish, but I am anything but, I am proactive. Yes I buy on the dips, usually the Friday smackdown, but for the last 6+ months it's really quite arbitary with spot sub $24 most of the time. I have more than doubled my stack during this period and looking at buying more.
Could you please explain what you mean by the duration you plan to hold influencing how important the initial purchase price is? The longer you hold it, the more the initial purchase position is magnified.
With spot at $22.40, I am looking at buying 40oz tomorrow at $24.60 from my LCS. If it should go up a $1 overnight, with the 10% premium I buy at it would cost me $25.70 an ounce, a differential of $44 for my purchase. Similarly if it drops a dollar, then it's $1.10 cheaper or $44 overall. Rather large swings of $1 each way from spot or roughly 5%. But with a purchase price of $1,000 I really don't give a continental; I'm not poor. However, if as I expect spot hits $36 by Easter, Each ounce if worth about $40 each or $1,600 for the 40oz. at sub $24 spot I really don't care too much about when I buy. Certainly I go for the best deal on the day, and might take a punt on a Friday smackdown, but if I worry the way the bears do, I shouldn't be stacking. A point to the naysayers, I really am not in it for a profit, I measure my wealth in ounces, not fiat. So if it should drop to $18, then I'll buy more; I am not poor. In the long run, I'll only sell when I no longer have any viable income stream. But that is not likely, worst case I'll sell the Big Issue outside the Bullion Shops on Collins Street!
