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Silver at $14.20 Gold at $975

Asheron
Asheron Posts: 1,229 Forumite
in Savings & investments
Wow. Silver just hit $14.20 on the COMEX

If it gets through 14 it will go hyper, towards $17 or $18.00

I am concerned here though that its going parabolic. I would have preferred a slower move higher but then again, silver could go to $50.00 an ounce if a crisis occurs. Thats why you dont trade your physical.

This is going to be years in the making $100.00 to $200.00 Silver is not out of the question, in several years time.

I would still buy physical even at this level.
As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
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Comments

  • mini_lidi
    mini_lidi Posts: 232 Forumite
    Combo Breaker First Post First Anniversary Name Dropper
    Where is the best place to buy?
  • Asheron
    Asheron Posts: 1,229 Forumite
    alot of people have said Coininvestdirect are good.
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • mike22
    mike22 Posts: 65 Forumite
    What is the point of buying it when is very expensive?
  • mini_lidi
    mini_lidi Posts: 232 Forumite
    Combo Breaker First Post First Anniversary Name Dropper
    well im thinkin buy silver nowand it should keep goin up! when gold is sold out, Silver will BOOM!
  • cloud_dog
    cloud_dog Posts: 6,129 Forumite
    First Post Photogenic Name Dropper Second Anniversary
    mini_lidi wrote: »
    well im thinkin buy silver nowand it should keep goin up! when gold is sold out, Silver will BOOM!
    I'm sure there's logic there somewhere....................... but, for the life of me I can't find it.

    In reality there is thought to be far less silver in the world than gold. For example the industrial applications of silver actually consume the silver (gone forever) whereas gold destruction is very low.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • cloud_dog
    cloud_dog Posts: 6,129 Forumite
    First Post Photogenic Name Dropper Second Anniversary
    mini_lidi wrote: »
    well im thinkin buy silver nowand it should keep goin up! when gold is sold out, Silver will BOOM!
    mini, may I stick my nose in where it may not be wanted......................

    Having read your posts and responses I think it might be wise for you to sit this out. Commodities, especially gold / silver are extremely volatile, and now may not be the best time to be buying gold / silver.

    If you are happy for your investment to fall in value by 25%-30% then go ahead, if not wait for a more opportune time.

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Asheron
    Asheron Posts: 1,229 Forumite
    The only thing going to fall in value by 25-30% is the Pound.

    :)

    O sorry it has already
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • cloud_dog
    cloud_dog Posts: 6,129 Forumite
    First Post Photogenic Name Dropper Second Anniversary
    Asheron wrote: »
    The only thing going to fall in value by 25-30% is the Pound.

    :)

    O sorry it has already
    Emphasis being on the 'it already has' and in fact the £ against the $ has reversed recently.

    There speaks a person with little experience or no conscience.

    For a moment forget your ramping and consider the implications for the poster, their circumstances (of which we no very little) and the ramifications if your 'buy, buy, buy' goes slightly wrong.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • stv1x
    stv1x Posts: 69 Forumite
    The last few spoken words in the video below are, imho, the only words you need to know......'don't buy gold to get rich, buy it to prevent yourself from becoming poor'



    Edited to sort video....I failed, sorry
  • jon3001
    jon3001 Posts: 890 Forumite
    cloud_dog wrote: »
    If you are happy for your investment to fall in value by 25%-30% then go ahead, if not wait for a more opportune time.

    To put some kind of perspective of the ride you could in for with silver I looked at what my PHAG (silver ETF) holdings were in GBP terms.

    15/7/08: £9.44/oz
    25/10/08: £5.41/oz
    17/2/09: £9.88/oz

    If you're happy with those kind of swings then go ahead. I'd recommend phasing money in over at least 12 months if you want to limit some of the downside risk.

    Like others who got into precious metals before recent highs, I'm probably due to sell off a portion to rebalance my portfolio.
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