Autumn

Autumn

Tuesday, June 24, 2014

The Price

Of precious metals has rallied. If you missed the recent dip in sliver, wait. Or, dollar cost average and purchase a bit each  month.

The asking price of gold is beyond me. If I recall my very first purchase, in bullion form, the cost to me was a whopping thirty-six dollars, and back in the early to mid eighties, thirty-six dollars was a whole bunch of cash to a poor fella like me.

A pocket filled with the smooth heft of silver gives great comfort to those of us leery of our nation's fiat currency.

Stephen  

10 comments:

  1. After I got waxed in the great rip off of 2007, I don't do "stocks" anymore. I want tangibles. Something I can touch, and something I can hold on to myself. Gold and silver makes a lot of sense. So does raw land, which may come back some day, or may not. It's all a gamble. But it beats the hell out of being screwed by a bunch of blood suckers in New York.

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    1. Harry, I've been in and out of the equities market since 1973. Late in 2007 I slipped quietly out and have watched in horror as the street continued to reach sick highs...its overpriced and will, I believe, soon burst. Like you I prefer tangibles. Thanks, my friend.

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  2. Speaking as a former stockbroker, avoid the stock market like the plague. But dollar cost averaging is a really good way to invest. Stephen, your advice is sound, FWIW.

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    1. We so agree, my good friend. Thank you.

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  3. Oh I don't know I been having a good time in the market since 2008 as a matter of fact. Just play it like gambling and never go long with your initial investment. Once you get a price high enough to cover your costs and fees sell off enough to cover your investment and go long with the excess. At that point who cares?

    Silver is up yes but not at a rally in my opinion yet $20,00 an ounce or so is nothing compared to what it should be. Last time I sold silver back in 2011 it was going at 50 bucks or so an ounce and I bought more investment silver at $18.00 almost a year ago. When it rallies back to about 40+ I might jump.

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  4. All the PM big boys are buying PM shorts right now, that would lead one to think that the price may drop again. They always seem to know which way the metals will go and they don't lose money. Of course, they are dealing with paper metals, but these set the prices for real metal. Always buy real metal, folks.

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    1. Shorts are standard in all markets, and I might add, a very good bet if you're an investor. If, again, you use PM's as a hedge, go long.

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  5. Good point Stephen... DCA does work in the long run.

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    1. And shall always work in the long run. Thanks, my friend.

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