I know a Guy who Invests in many things. He tells me Silver is going to be Hot in next couple years. What is your opinion on Silver and have you heard of any news on Silver ?? Thanks, I always could use a few 100 oz bars as paperweights.
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I know a Guy who Invests in many things. He tells me Silver is going to be Hot in next couple years. What is your opinion on Silver and have you heard of any news on Silver ?? Thanks, I always could use a few 100 oz bars as paperweights.
Well if you had bought some back late 2001, you would be doing pretty good for yourself. It was under $5 an ounce back then. Ran up to $40 in July 2011 and is now sitting at $17.57 per ounce.
As far as it being hot in the next couple years... Nobody knows. If your guy believes that, he would be sitting on tons on silver. Does he have tons of silver?
IMO, precious metals aren't so much an investment as a way to preserve wealth in the event of major economic upheaval. Trying to invest in them is more speculation than investment. If there was some underlying fundamental reason for the price of silver to rise in the next couple of years, people would be buying it and the price would soon reflect the expected future price.
I'm not too familiar with the fundamentals on owning silver. The only reason I can think of owning metals, is a hedge against a weak dollar. But I would prefer gold for that. Looks to trade relatively close to gold. I own ABX for a gold trade, only because it is the only, or atleast one of the few gold trades that is above it's 200 day.
IF they are pushing sales on TV, it's a reason not to own them. Someone is trying to unload.
What I don't understand about owning gold or silver is, if the market crashed, who is going to be buying jewelry? When David Duvane sends you those gold or silver coins, how do you know what percent of the coin is actually gold or silver. Every time I watch the ad, I think of the TV show, American Greed.
I just looked up Leer Capital. they have a web site, so they must be legit.
Buying coins on TV is a total ripoff. You might get $5/$10 in a limited coin that cost $50. Buy American Eagles or Aussie Kucarans(?).
I watched a certain National TV News channel the other day that seemed to running ads for gold and silver investment every few minutes.
bought some slv today for a trade
I buy silver rounds from JMBullion.com. I haven't touched it lately because I think it is over priced. When it gets down to ~$15 per troy oz, then I will pick up some more. I don't see it as an immediate investment. I am with CatFan as it preserves wealth more than creates it.
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Originally Posted by CatFan
Both gold and silver are really over sold according to the technicals.
Fox News seems to be the only place on TV this type of investment is regularly advertised.
Supposedly a large influx of money into silver this past week. I bought some calls in a stock that should do well if silver goes up some more.
Instead of investing in a precious metal itself, I've always invested in the companies that mine for it. Can't complain.
When you buy you pay a premium. When you sell you have to discount it. Bought some for tradn stock one time, broke even and learned a lesson. I buy 20 ASE's ea yr just because.