Hey Dougster, How About Silver?
rockstar666
Illinois
You seem to be the investment guru... I sold all my silver at $37 an ounce a few years ago (it did go higher but I did quite well), and seeing as it's now flirting at $16 an ounce I'm watching it closely to get back in. Do you ever trade precious metals?
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I think the story AGAINST it is so compelling (should get killed by rising rates) that it will probably do well. :-)
For example, if you buy $20,000 silver at $15, sell $10,000 if it hits $16.50 or buy another $10,000 if it hits $13.50.
Precious metals should not exceed 10% or 15% of your portfolio. Too risky otherwise.
Gold prices tend to spike wildly when large numbers of investors (erroneously) perceive of it as a "safe haven." If interest rates spike while the stock market is correcting sharply, I wouldn't be surprised if gold doesn't spike temporarily. Be nimble: get in, get profit, get out.
I have traded shares of gold companies many times over the last 40 years, almost always losing money. I have been buying gold coins for those same 40 years, accumulating a tidy stash and never selling even a single one of those coins.
Gold is an attractive metal to one's eyes. Periodically I drag out my stash of coins and just play with them; feel them run through my fingers; let them dazzle my eyes as they gleam in the light.
'Barbarous relic' it may be, I am not ashamed of my peasant-like fascination with gold. Its allure is powerful.