I sold off the rest of my silver this week at $46. I decided to get out because I heard 3 different guys at work tell me they recently bought a bunch of silver. It's like Joe Kennedy's old saying, when the shoeshine boy starts giving you stock tips, it's time to get out of the market. Plus, after speaking with numerous reps, a lot of companies are shutting down productions of their industrial equipment due to falling demand.
I do believe that the silver price can still increase, but I'm convinced we're headed for a major correction this year. I wouldn't be surprised if the price goes down to around $20. If it drops that much, I think it'll stay there for some time due to the slowing demand for its industrial use and all the people spurned from investing in it because they were burned by the sharp drop in price.
I'm keeping all my gold, but I won't purchase any more of it. I think that price will also have a correction, but it will not be as severe as silver. I bought so long ago that a 20% price decrease doesn't bother me.
I do believe that the silver price can still increase, but I'm convinced we're headed for a major correction this year. I wouldn't be surprised if the price goes down to around $20. If it drops that much, I think it'll stay there for some time due to the slowing demand for its industrial use and all the people spurned from investing in it because they were burned by the sharp drop in price.
I'm keeping all my gold, but I won't purchase any more of it. I think that price will also have a correction, but it will not be as severe as silver. I bought so long ago that a 20% price decrease doesn't bother me.