Silver/Gold Price roller coaster:
Well; since I wrote my first post on this blog, about 12 hours ago, the market went a little crazy. It went from $34.10 to a low today of $33.00, and currently is holding around $33.70. This is a prime reason I wrote in my first post that for the person who buys silver and gold as a means of paying off debt or buying high priced items at a discount, you must have "TIME" on your side. You need to be able to sit on your silver or gold for months or even years. But that period of time totally depends on the REASON you are buying silver or gold; and the price level you have set for yourself to buy or sell.
See, the "prepper" who buys silver or gold because they believe that the dollar is totally going to crash and that there won't be any currency, believes that the silver they buy will be their wealth in the future. These people are sometimes also referred to as "Stackers". Basically, they buy silver, but until the collapse of the dollar and economy, they have no intention whatsoever in selling it. So for them, the price doesn't matter. Matter of fact, they love it when the price of silver goes down, because they can buy and "Stack" more of it. Well, I and others who buy silver to reduce debt and purchase items at a discount, (When Time is on our side), also like the price to go down, so we can buy more. Of course, we however, have a price point where we'd like to sell, to meet our original goal. Sort of like buying stocks. Except we don't get dividends or compounded interest. Anyway, I'll get into more detail later on my next post. CYA: SE
Well; since I wrote my first post on this blog, about 12 hours ago, the market went a little crazy. It went from $34.10 to a low today of $33.00, and currently is holding around $33.70. This is a prime reason I wrote in my first post that for the person who buys silver and gold as a means of paying off debt or buying high priced items at a discount, you must have "TIME" on your side. You need to be able to sit on your silver or gold for months or even years. But that period of time totally depends on the REASON you are buying silver or gold; and the price level you have set for yourself to buy or sell.
See, the "prepper" who buys silver or gold because they believe that the dollar is totally going to crash and that there won't be any currency, believes that the silver they buy will be their wealth in the future. These people are sometimes also referred to as "Stackers". Basically, they buy silver, but until the collapse of the dollar and economy, they have no intention whatsoever in selling it. So for them, the price doesn't matter. Matter of fact, they love it when the price of silver goes down, because they can buy and "Stack" more of it. Well, I and others who buy silver to reduce debt and purchase items at a discount, (When Time is on our side), also like the price to go down, so we can buy more. Of course, we however, have a price point where we'd like to sell, to meet our original goal. Sort of like buying stocks. Except we don't get dividends or compounded interest. Anyway, I'll get into more detail later on my next post. CYA: SE
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