Silver - Buy or Sell?
Hi Friends,
As a precious metal investor, seeing the price of silver drop to the $13s in depressing. Part of the reason I have purchased silver bullion is the safe haven aspect, which is not playing out right now.
However, looking at the crash of 2008 as recent history, silver dropped from $24.25 per ounce to $11.50 during that period, only to shoot up in 2009, 2010 and 2011 to upwards of $40 per ounce. Does this mean our recent drop from $19 to $14 could be similar to the 2008 crash before we spike higher over a prolonged recessionary period?
Who knows.
We could also be headed back to $6-$8 per ounce silver, which is where we were from 1990 through 2005.
What are your thoughts on the price of silver?
Thanks for coming by,
Brian
I'm totally clueless where silver is concerned. But wouldn't be surprised if even precious metals decline in price during the potential recession we are looking at. Your guess is as good as mine! !giphy silver
giphy is supported by witness untersatz!
I would look into buying a In the Money Call Option, a Sept/Oct. expiration in SLV.......1.30 per option play.....Easy money
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Works if we don’t go down too far. What if your price target for silver?
I’m bought some last night when the ratio went to 120 to 1 compared to gold. The premiums are high and most are out of stock but still worth it. Can it go lower, yes but I have a long term game. 🤑
Posted using Partiko iOS
This is the time to hoard and pick up more physical silver if they are still available.
I think a single digit price is completely feasible. That of course would only be the reported price. I don't think you'll be able to buy it for under $15-$18. As long as the rest of the world is tanking too, people will continue to flock to the USD as a "safe haven". That will continue to push down commodity prices. As usual, I'll be buying what and when I can find it.
True... the dealers bought it higher so they won’t want to sell too low. Hard to image many sellers sub $15...
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