Is the Worst Over For Silver?
7 years ago in #money by silverfortune (52)
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40 votes
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I just bought a large safe to mount to a wall, and store my silver bullion coins.
now silver have no choice but to go up, and fast !
I caught the silverbug late in the game. I'm investing as much as I can in silver now, while the prices are so low. If the fix were to end tomorrow, I'd be greatly disappointed because I ran out of time to consolidate my position. To me, the longer the price fix stays in, the more time I have to buy.
Those who are upset about silver price need to ask themselves why the are so. Are they looking to somehow profit off of silver in the short run and believe an unmolested price will help them do that? Are they looking to cash in after years of accumulation, hoping the price will go up so they can take profits? Or are they holding silver for the long run, as insurance against a market crash or worse?
I fall into the latter category, and to me, the longer the price stays here, the better. The only time I want the price to go up is when I'm planning on needing it, when the economy tanks. Basically, Silver is insurance to me, and I want plenty of low cost insurance to protect myself from an eventuality. Profit is not my primary objective with this asset class.
I think the majority of stackers agree with you. I just feel bad for the retirees that are ready to sell, after decades of buying. That, and the fact that low silver and gold prices help enable the current system of Fiat and debt.
Stack on!
True, retirees don't get to see the full benefit. However, retirees do benefit from the anti-inflation properties of their investment, unlike if they had their money in cash, money market, or bonds.
Discussing this inspired me to write an article. You can see it here: https://steemit.com/silver/@infinite-monkey/silver-and-gold-for-insurance-not-profit-use-market-manipulation-to-your-advantage
Already saw it 😀
A few years ago I thought it would be fun to buy silver! I bought a bit at around $24 per ounce. The price went up to $40 and I thought I was RICH! LOL ... then this. The crash. Now I'm holding wondering when/if I can get out and invest in something else. For now... I hold :)
The periods of maximum pessimism are my favorite times to buy. Good post! Resteemed.
Buy when there's blood in the streets... 😀
Exactly. To make loads money when investing, you need to learn what everyone else is doing wrong and figure out how to profit from it.
I'm surprised by all this disheartened stackers, since 2016 things have been on the up albeit slowly!!!
Hi @silverfortune, great content! What is your opinion on the likely rise of gold in my article? Do you agree with it? You can read it if you want, thank you! https://steemit.com/gold/@unknowncrypto/the-bulls-are-returning-to-the-gold-market
Interesting post. The whole idea is to buy low, when the pessimism is at its highest.
Three days ago I wrote a post , where I analyzed the gold-silver ratio.
This could interest you.
Here is the link:
https://steemit.com/silver/@nenio/is-silver-undervalued
I really hope the end of rigging silver is over soon...on top of that still be able to stack before its shoots up
Never been a get rich quick kind. Just like inexpensive silver so I can afford to buy. Thank you and take care.
Last time the fed raised rates, gold and silver rallied short term. Maybe they will rally again if the rate hike is already priced in. $1300+ gold soon!??
I think it hit a bottom after the first rate hike
I don't invest in metals as a "get rich quick" strategy. I'm in it for the long haul. You've got to be patient with metals. The manipulation is enormous, but it can only last for so long. In 2004-2005 silver went up to $50 an ounce. Currently it's at about $17.80. I will keep stacking and see what happens. I'm extremely optimistic about valuation of silver and other precious metals in the future.
Silver reached around 50 USD in 2011.
Most undervalued asset on earth, IMO.
You're so correct! I'm not sure why I said 04/05. Thanks for correcting that. Onward and upward my friend :)
Unfortunately silver will continue to defy the market logic and stay relatively low..
I have a post that you mite like to see called the Silver bullion Secret
that shows I have a detailed understanding of the bullion market.
I'm going to put up a post soon to explain why its going to stay low for a while yet.
Cheers
nice upload
It's starting to look like it's building some good momentum. Cheers
Nice post. I've been buying since 2011, I think most of us expected gold and silver to surge to new highs before now - pretty clear where the hedge against fiat has gone the past 6 years! Will metals be needed in future? I think we're going to see Faith lost in both fiat and cryptos before then..
Great article mate I've been stacking for a while now and if I'm being honest I don't let the manipulation worry me to much I firmly believe that the silver bull will smash them in the end thanks mike
I'm in the "stay under 20 as long as you can" club for silver. I'm stacking for the long game, and like many others, I started as the price was coming down off the 2011 highs. There is a pawn shop on my way home that sells silver bars and rounds they get at just a dollar over spot, and they give me a better deal when I buy some bulk from them. Ill just slowly build my cache, and bide my time until I "need" to transfer silver to another currency, maybe directly to crypto, depending on the state of the world at the time.
I wish my "small quantity" were a monster box. Me buying a "small quantity" is a few ounces. Haha
Interesting! I've been wondering about other precious metal i.e. not gold or silver
How about doing a blog on one for us (if you haven't already!)
"Small quantities on the dip... Never more than a monster box"
I wish I could consider that a small quantity. :D
Stack on