Silver at a low

[Lowdown3]

Metal Bid Ask Change
Gold $1,279.70 $1,281.70 ($16.20)
Silver $18.89 $18.99 ($0.23)
Platinum $1,406.40 $1,416.40 ($11.50)
Palladium $810.70 $815.70 $2.20

8:16 on 5/1

[rockriver]

lol...
it ain't funny.
a couple of months ago...
I spent my silver budget at 20.20

so do I think this is a blue light special yes...
but, then again how low can it go?

I ain't gonna sell.

[miked2345]

Well OF COURSE silver is going down!!!

I warned everyone here on 2/27/2012 (Over 2 years ago..) that silver would go down.... How did I know?? BECAUSE I BOUGHT SILVER!!! :cool:

Just like when I buy a stock, it goes down in value... I have a knack for this!

I started buying a couple years ago, when it was over $30/ounce. It's been slowly dropping ever since. But this time, I'm not worried. With the way the
gov't is driving up our debt, the odds of the world dropping the dollar as the reserve currency, more and more countries turning against us, I have NO DOUBT that as some point, precious metals will spike up and be much more valuable. So everytime the coin show comes to town, (Monthly) I buy more junk silver or Silver Eagles, at cheaper prices. I'm not selling unless the SHTF and then I'm selling because the dollar has plummeted and silver is sky high..

If that point does not come in my lifetime, then my son will inherit a nice heavy box of coins...

Meanwhile, does anyone need some investment advice???? :p

[rockriver]

thanks mike!
yes... i'll ask for advice...
I agree with your conclusion.
rr

[Lowdown3]

I look at it as another savings vehicle more than anything else.

Relatively safe, MAY keep up with inflation. To have and to hold.

Bank savings account- also relatively safe, WILL NOT keep up with inflation. To have for now and to hold if never locked out of it.

[hidden_waldo]

I look at PM's as:

financial insurance

Diversification in stuff I own that gives me more options to respond to situations.

Making the assumption that the economy will remain reasonably stable for the near term, I can see all the PM's "price" going down.

That is going to trigger a fair amount of people stating one of the following:

"I told you so, PM was a bad investment. Should only buy stuff you can use."

or

"I am going to back up the truck when any given PM hits X dollar amount."

For the first group, You should only buy stuff you can use. When all the primary, secondary and third lines of: Food, water, shelter, protection, self sustaining products are bought; you need to start thinking ahead. You can always survive, but the question is do you want to have the option to thrive...

And for the second group, The people that practice what they preach on the "buy low / sell high" approach. Of course no one wants to pay more for something today if it is going to be cheaper tomorrow; but what if you need it tomorrow and everyone wants it "now", that is always the catch.

Look back at the Silver charts for 2007 and 2008 and some of the comments that were going around in that time frame. For the TL;DWTR (too long ; don't want to research) crowd Silver went from $11 to $17, to $21 to $17 to $10 in a 24 month time span. There was no shortage of people on the downward slide of this stating "I am backing up the truck at "X" amount". But then ask around what happened when Silver took that drop from $17 to $10, everyone with their "trucks" and "shut up and take my money" approach couldn't find an oz of Silver to buy to save their life.

For the people that stay stuck in one of or both of the channels above, they will become very bitter about PM's. For the people that use PM's as insurance and Diversification / Options-giving medium; they will a little more rounded in the before-during-after of any "event" they go through.

[protus]

I look at it as another savings vehicle more than anything else.

Relatively safe, MAY keep up with inflation. To have and to hold.

Bank savings account- also relatively safe, WILL NOT keep up with inflation. To have for now and to hold if never locked out of it.

last line of savings on my end. its a back up to the savings accounts,,401k etc. its what i can physically hold in case of a lock out and also that buffer in case paper funds equal what they are printed on..

[rockriver]

ld was on track... he called a low.... on silver..
I was sad... "paid too much" it appeared...
well
now silver is back to "my price" 21.18 or close.

I hope all you guys bought at ld's call.