Gold & silver’s recent decline have opened new buying opportunities for investors and collectors. As gold & silver rise and fall with the effects of world political news, nation’s debt problems and worldwide civil unrest, this provides good opportunities to buy the precious metals at bargain prices.
I’m one of those few people who try to buy more shares of stocks or more ounces of gold & silver when the market retreats a little bit. But, I caution one not to jump in too fast and buy on emotion. I tend to let the market “bottom out,” so to speak first before diving in.
With silver’s sudden free fall in May from its high of almost $50.00, the market reacted with volatility, rising and falling almost daily. It took a few weeks for the dust to settle and the market to stabilize around $32.00 an ounce. This demonstrated a great time to buy, as the technical data still supported silver in the $40’s, even in the $50’s. Since that time, silver has been on a constant upswing with a few pullbacks caused by “profit takers.” Currently, silver is hovering between $40. and $43. an ounce, with predictions of it hitting $50. an ounce before year’s end. If one would have bought silver at the low of $32. an ounce in early July, you would have realized a potential gain of 26% in just a couple short months at the precious metal’s peak of $43.
If you want to begin buying gold and silver coins, bars or “rounds” make sure you select a couple of websites dedicated to providing current news, insights and analysis on the precious metals market, such as www.kitco.com or the like. Here you will get daily, even hourly updates on the markets. This should help you make your decisions on what and when to buy. Please by advised, though, that you should consult your own financial consultant who knows your personal finances before buying or selling any precious metals or stocks shares.
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