Silver/Gold Information: Good, Bad; what should I believe?

The first thing I’ve said to my readers when I first started this blog, was to not believe everything you read. Including my own blog. You need to go out and find the truth. That means comparing information from numerous sources. Plus; even though I would never intentionally steer any of my readers wrong, I can provide you with ALL the information out there. So you need a number of sources to make you an educated silver and gold buyer.

So, what can you believe and what should you throw out. Well, I will give you my check list of what I use when doing research. These are the things I keep in mind when looking at silver, gold, investing, economics, financial, and government reviews.

1.       Retailers: If in your research for silver and gold, you find articles that are on a retailer’s website, magazine article, television ad, or any media promoted by a retailer…. Automatically disregard it. You have to realize that a retailer only has one goal and motive. To make money from you. They make money no matter what the price of silver and gold is. If the price of silver is low, they’ll try and convince you that it’s going to explode soon and you need to buy now. If the price is high, they’ll try and convince you that it’s the perfect opportunity to sell. See, they make money from you whether you’re buying or selling. Remember a couple years ago when gold was close to $1900? There were tv ads all over trying to get you to sell your gold jewelry for “Cash”. You can not trust anything a retailer tells you. They only care about making money; and they make money from you no matter what the price is. If you click on an internet article about silver or gold, and that site has a tab where they sell silver and gold, disregard it. I’m not talking about advertising links on their site to buy silver and gold. I’m talking about a site where the article is that ALSO SELLS silver and gold. Don’t give their articles the time of day. If you choose to buy silver or gold, there’s nothing wrong with buying from these sites. Just make sure the decision is yours based on your research. Not based on articles on their websites, magazine, tv ads, etc.

2.       Time: This is very important. If you’re doing research on silver and gold, and whether to buy, sell, invest, etc. make sure that the article you’re researching is recent. Make sure it’s no more than 1 year old. Silver and gold prices and forecasts change continually. What may have been true and accurate a year ago, may or may not be that accurate today. Try and get the most recent information to work with. Don’t read articles from 2011 or 2012. The times have changed. That information isn’t accurate. This isn’t to say you can’t use historical charts to look at trends over the last 5, 10, 20+ years. Just don’t put much faith in articles describing the future of silver and gold if the article is more than a year old.

3.       Reputation: If you can, lean more towards individuals who write and have a good reputation. People such as David Morgan and Mike Maloney are reputable individuals. They have great Youtube channels. These are financial advisors who work in the investing business. It doesn’t have to be these 2 individuals. There’s plenty of reputable people out there. Look at the feedback on them. If it’s a youtube video, look beneath the video and there’s usually replies from viewers. See what they have to say. You might find that many agree or some think the individual posting their opinion is a crack pot. The internet is easy to determine reputation. You can google the person’s name doing the article or video and see what type of response you get from that. Remember; there’s a lot of youtube videos out there done by little Johnny or Janie who have no real experience. They are talking out of their ass. Remember….. just because it’s on the internet, doesn’t mean it’s true.

4.       Open Mind: Finally, the last point I want to make, but one of the most important things, is to make sure you keep an open mind. We sometimes WANT something to be a certain way, that we only read and believe articles, stories, videos, etc… that “Prove our point”. Most of us want to see the price of silver and gold go up. Some, long term stackers, want the price to go down so they can buy more. But the point is, if we really want the price to go up, we tend to find and believe articles that say that the price is expected to go up. Keep an open mind. As I said in the beginning years of my posting, silver and gold are usually for the “LONG TERM”. While you can make money immediately, it’s also possible for you to need to hold onto the silver and gold for months or even years. And when keeping the LONG TERM in mind, remember that for most of us, “DOLLAR COST AVERAGING” is the key to success. I started REBUYING silver and gold in large amounts back in 2012. (I sold a lot at the PEAK when it was higher). So I’ve been buying at $37 an ounce all the way to where it is today. But my AVERAGE cost over the last 2 1l2 years is $24.00. So, by keeping an OPEN MIND, I was able to wait for a suspected low that week and use it to buy more. Read, view, and learn from all articles. Don’t just cling onto the information that supports what you WANT silver and gold to do.

Hope this helps you out when doing your research. Learn as much as you can.

CYA: SE: