Skip to comments.Precious Metal Market
Posted on 03/13/2008 4:41:16 PM PDT by LukeL
To all of you financial wizards out there. I currently own 30 oz of silver and bought it around $15.00 per oz I check the spot price every know and then and have seen a rapid jump in the daily spot price. In the past 3 days it has gone up 5%. Is it a good time to sell or is $30 or $40 silver possible?
anything is possible, but when you took your position you had an exit strategy?
Much of investing is setting points to buy and sell and having discipline to stick to them. - IMO.
Given costs, what is your break even point?
When the old media,your barber,people posting on FR start talking about silver and gold,it’s time to sell.
30 oz of Silver really isn’t a substantial sized investment unless you consider $150 profit substantial. Just hold on to them. There may come a time when the $ is worthless and you’ll be glad you have 30 pieces of real money.
I am only 23 and bought silver out of curoisty I am around the break even point right now, maybe a $50.00 profit. They are in 10oz bars. I just forsee a crash in the market, I would like to start some real investments like t-bonds, CDs and such as I am only a student and the market is still far out of reach with my funds.
Consider that gold has just passed it’s all time (I know, I know, not adjusted for inflation) high.
Silver need to more than double to do that.
But copper has recently established all time highs. So has zinc. And platinum. and....
So there is a very good chance that silver will sometime exceed $50 an ounce.
Also right now the gold to silver spot ratio is 50/1 when historically it was around 20-30/1
Although the historic silver high was from manipualtion of the market by two people, so I am unsure of how high silver can get. I doon’t even know if I should trust the hype of China and India using recrod amounts of silver.
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