Time To Buy???
- Thread starter Bigj5731
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fistfulladirt
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I watch ePay all the time. Rolls of 90 Kennedys selling for $170+, I was buying rolls of 90 halves a month ago on auction for $130. I'm wondering if now is a good time to buy also. Sticker shock scares me away.
jim4silver
Silver Member
I would say it depends on how much you already own (percentage wise) when compared to all other assets you own.
If you already have a decent percentage of your assets in PMs (that percentage amount is subjective, but I would recommend 20% at least, but I am a gold/silver bug), then just buy a set amount each month (dollar cost average) that you feel OK with.
If you don't have a decent stash of PMs, then I would dollar cost average no matter what the price is for now and keep a nice stash of cash ready if a big correction comes. If you already have an amount of PMs that you feel comfortable with considering today's economic climate, then I would hold off on making large purchases since we are at the top for gold and silver with respect to this bull market at this point in time. I think prices will go much higher later, but we should get a decent correction sometime in the near future I believe and hope.
Jim
If you already have a decent percentage of your assets in PMs (that percentage amount is subjective, but I would recommend 20% at least, but I am a gold/silver bug), then just buy a set amount each month (dollar cost average) that you feel OK with.
If you don't have a decent stash of PMs, then I would dollar cost average no matter what the price is for now and keep a nice stash of cash ready if a big correction comes. If you already have an amount of PMs that you feel comfortable with considering today's economic climate, then I would hold off on making large purchases since we are at the top for gold and silver with respect to this bull market at this point in time. I think prices will go much higher later, but we should get a decent correction sometime in the near future I believe and hope.
Jim
jim4silver
Silver Member
steeda said:
It probably has to some extent, but we still don't know yet what this QE2 will consist of, at least from what I have read. I think there are several variables playing into the most recent run in PM prices; the weakening dollar, fears of inflation, QE2, other countries printing as well, etc.
It is hard for me to figure out what impact each of these factors has by itself. I am no expert, but I believe that the main reason there could be a decent sized correction in the near future is if something spooks the stocks and they take a big dive. When this has happened before the big PM speculators get out to cover their stock losses, which pulls the PMs down along with it. While I think this would only be temporary in this current bull market, it could be a great time to add PMs if it happens. I kind of think that if this foreclosure/mortgage situation is not fixed quickly, it could spiral out of control and and have a big bear effect on stocks.
If the stock market keeps going up I don't see a big correction in PMs, maybe a minor one but nothing that would justify the hope of selling now to buy later, or holding off completely in hopes of buying at a better price later.
I am just guessing at all this, but it will be interesting to see how it all pans out.
Jim
quiksilver
Bronze Member
Just keep buying slowly and steadily. Look for prices close to spot.
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