buy now and average in your costs...
Ecoast is right. But you should only depend on your own conclusions and not anyone else's. Remember that PMs are assets and not investments per se. People who simply hope for a 2 or 3 bagger investment would probably do better playing some of the volatile etf's or stocks.
It is clear that the super wealthy are seeking physical assets to park large amounts of cash. Diamonds, works of art, etc., have been bringing in record sums at auctions and such. Due to the success of whomever it is that is suppressing PM prices (for profit or some other motive), many people do not look favorably at PMs right now (even some diehard PM bulls have thrown in the towel and sold). Once the bull market takes off again the sheep (wealthy and average) will decide PMs are a good deal again, but will probably be paying $30 and probably far more by the time they decide to buy.
Mining companies are going to get slammed by these lower prices. Some here will tell you that mining companies are all liars about costs and they can magically pull PMs out of the ground for free, but don't believe that. For whatever reasons, many mining companies found it hard to make profits when prices were up, but when the prices are below or at the cost of production you can see where things are headed. I personally don't think supply disruptions of metal will be the catalyst for the resumption of the bull move, but it will be down the road if prices stay low for too long.
I say if you buy PMs, stash them and consider them your 401k or IRA that the gov cannot touch. Look at what a Judge ruled recently about Detroit, pensions are just like regular debt and CAN be reduced. So if you are a retiree counting on that pension, you just probably lost a good 1/3 or more depending on how the bankruptcy court proceedings go.
Anyone who thinks PMs are not really worth anything in this modern age should look at India right now. Basically the gov is treating gold like dope. I read this morning that gold smuggling has far eclipsed drug smuggling there recently and that snitches and whistleblowers are getting paid record rewards for ratting out gold smuggling. The premium on an ounce of gold there due to gov taxes and restrictions is over $125 from what I have read. This is in a country where buying gold is a custom and not for "investment" only purposes. You must ask yourself, why would the Indian gov do that to gold if it is simply a "barbarous relic"? It is because the people there are smart enough to know gold will protect them in the long run.
PS I will leave you with this educational video regarding what can happen to non physical assets you own. I believe this message is TreasurePirate approved! LOL.
All my opinion.
Jim
