SILVER HAS FINALLY COME DOWN
Silver has dipped below $24 the last couple or weeks mostly on news that China's economy has slowed.
If you have been watching the metals jump around, you know that it's crazy. Every little piece of normally insignificant news moves the market up and down. I have never seen anything like this.
Will silver go lower?
I will tell you I have hundreds of clients who get sucked into the wait and hope game every time the metals go down. When prices are up, they just want to see a dip before they buy. When prices dip, they want to wait for the bottom.
The problem is-no one knows the top or bottom. I've done this for 43 years and if I could positively call the highs and lows, I wouldn't work anymore-so your chances are likely even worse.
I can give you a list of clients who passed on gold at $1650 an ounce and silver at $19 because they wanted a deal.
How did they do?
The deal is to buy when you have the motivation, the funds and decent premiums.
I understand we haven't had a bank failure in weeks. President Biden is supposedly meeting with McCarthy to solve the debt ceiling crisis and for some reason the President is headed to Japan in the middle of all this.
So, I guess everything must be under control and you can just stop worrying, RIGHT?
I don't know if the metals will move lower or not. I do know that the problems everyone is worried about over the past few months have not gone away. We have just been distracted with a lot of things that don't really matter.
Don't wait to join the panicky crowd when the next big crisis becomes common knowledge. You will pay a lot more in premiums and have log waits for delivery.
Beat the masses and get your silver or gold while it's available and cheap.
- Nick Grovich