Who else is buying silver today? Record lows @ USD$22.80. 10oz Engelhard Bar 1oz Canadian Maple $5 <1964 dimes
It will probably fall to $20 within the next day or two, and if it drops below that, it's anybody's guess what will happen next!
I've been seriously tempted, but I don't know enough about the market to take full advantage of the current low prices. Edit to add: Any input or perspective from my fellow forum-goers would be appreciated.
There's a shop that I purchase from locally. Companies have been producing bullion bars and rounds (coins) of all shapes and sizes for decades. Look for a local bullion or coin shop in your area, I'm sure they'll have some available.
Last I bought it was $40+. Needed it for a project so didn't have the choice of waiting for the market. Maybe I should pick some up!
Wait until May ~ June. It will drop much further I think. At least wait a few days and let the dust settle. It won't shoot up to $30 in a day. Gold looks really attractive. Could add a nice bit to my stash. But, I'm going to wait a bit so I can make a big buy. Wish I would have held off a few weeks ago before I picked some up. Them's the breaks.
Ok, Today's terrorist attack might change the economy and future prices of PMs. Depends on how the stock market reacts, and the lunatic fringe and idiot politicians.
The run on PMs may not be over, most of the selling in the market right now is not panic selling, its forced selling on margin calls carried on large positions. Also, CME just increased margin requirements on Gold, Platinum and Palladium by 19%, so we could see some more liquidation tomorrow. I don't believe the margin requirements for Silver were increased, but I expect to see it trade along side gold if it continues the slump tomorrow. This is not investment advice, just my .02 on where the PM market is heading in the short term. I am often wrong.
