Need help/advise on Silver

[queenofspades]

Initially i thought silver would be safe to keep.

Therefore I bought silver from UOB at a high price of 41.84/oz last yr, about 47oz. And then it drop to 37.09/oz i got another 40 oz. And now the price is 25.

Calculate to be at a loss of 1.2k+, need advice whether should i go in more to average out and minimize the loss or should i withdraw everything out.

Advice much appreciated.

 

[FP_IFA]

I might buy some silver when it is about $15 per oz.

 

[Shahmatt]

Your initial investment was not wrong. This dip is only short term. Just hold for now. Buy more if you like. Once this phony recovery becomes visible to investors Silver will shoot up to 100/oz or even higher.

 

[queenofspades]

Thanks but i think about it, the price we see now is actually the end result of the information around and i also believe that the current price is now more or less the actual value. (i feel that we are kinda a step behind when things happen)
like when the news release on potential silver, it was already at 33 per oz. So i did my homework, i guess it wasn't enough. i went in and then its on the down trend already.

 

[queenofspades]

Losers Average Losers - Averaging Down

 

[IronMac]

I would not put anymore money in at this point.

The Fed was not wrong in saying that there is a recovery going on in the US. I listen to US companies all the time and the recovery has been happening ever since Oct-Nov of last year.

 

[kebinu]

I won't get more silver. It's gonna be a very long time if it goes back to the price you got it.

 

[mmlfreedom]

MONEY LAW: Gold and Silver - Invest with the Right Knowledge
MONEY LAW: Gold and Silver - Invest with the Right Knowledge Part 2
MONEY LAW: Silver has drop below 20.

 

[FreDeRicK]

Initially i thought silver would be safe to keep.

Therefore I bought silver from UOB at a high price of 41.84/oz last yr, about 47oz. And then it drop to 37.09/oz i got another 40 oz. And now the price is 25.

Calculate to be at a loss of 1.2k+, need advice whether should i go in more to average out and minimize the loss or should i withdraw everything out.

Advice much appreciated.

Hi, in my opinion, I'd rather weather out the storm. If you sell now, you will realise an actual loss instead of a paper loss.

I'm sure you know that the market moves in cycles. If you can afford for your money to be locked-in for the next 1-2 years, why not leave it there?

I will also consider purchasing more, taking advantage of the low price now. When (not if) the price rises, you will bounce back faster - in a way.

 

[FreDeRicK]

I'm doing it on a regular basis so I average out the prices and hence, risks.

If you purchased yours all at one shot, it definitely is hard to swallow.

 

[kebinu]

Hi, in my opinion, I'd rather weather out the storm. If you sell now, you will realise an actual loss instead of a paper loss.

I'm sure you know that the market moves in cycles. If you can afford for your money to be locked-in for the next 1-2 years, why not leave it there?

I will also consider purchasing more, taking advantage of the low price now. When (not if) the price rises, you will bounce back faster - in a way.

I'm not sure why you think it's just holding through 1-2 years. It will take a real long time before there is actual upward movement after such a planned pump and sell last year, or was it 2011.

 

[Dyhalt]

Personally, I have bought silver from the time it was $27/oz as an inflation hedge and something to diversify away from stocks. I believe something that holds value for 5000 years is assuring to have at least some all the time.

My main reasons for buying silver even when price head south.

1. US/China/Japan/Europe are all printing more money. I don't care what the media say about low or no inflation, as long as they are printing, I'm buying hard asset.

2. All the major economies are getting more heavily debt ridden.

3. Banks around the world are going kaput. (First Greece, then Cyprus,then China credit crunch.. who knows whats next?)

As long as the 3 reasons continue.. I'll keep a part of my portfolio in hard asset like silver no matter whether its $50, $30, $20, $10 or $5.

I understand its painful to see your asset value plunge, but history always show when there is too much financial intervention by governments, something always goes wrong sooner or later. Have faith.... just don't buy too much till its causing you sleep problems at night

 

[FreDeRicK]

I'm not sure why you think it's just holding through 1-2 years. It will take a real long time before there is actual upward movement after such a planned pump and sell last year, or was it 2011.

What I meant to say is: don't pull out now and make an actual loss, review the situation again in future. Of course, it's up to anyone's own decision regarding what to do.

I believe that Gold/Silver will gain steam again eventually. Don't take my word for it. I just believe so.

However, a $1200+ loss isn't that bad, perhaps can consider cutting loss and move the funds to elsewhere that has better uptrend potential.

 

[FreDeRicK]

Gold & Silver dipped again this morning.

 

[FP_IFA]

When you have all the reasons in the world for something to go up but it is coming down, you call that a bear market. And then when those reasons are remove, you should expect to see further drop.

Gold bulls are still trapped in their hope of hyper inflation. Look around you. How much money has been printed already and now the printing is going to stop. Is there still signs of hyper inflation? Of course gold price will pick up eventually. The question is when and what opportunity cost has you lose.

Look at the price chart and don't only focus on fundamentals.

Note: Not suggesting to sell now. IMO it is a bad price to sell. Lets put it this way, if I got a million dollars now, I still will not buying silver with any part of it.

 

[queenofspades]

hmm thanks all for sharing, i know its gonna take a long long time before it goes back to the price i bought but setting that aside. Maybe i would want to go in a bit more be it average down or being able to bounce back faster. Say taking 80 oz at this price would recover when the price reverse up to 25/oz. I dont know..

 

[hwmook]

I don't know what you guys are thinking, look at the god damn chart. The last peak in silver is more than 30 years ago. If you think you can hold for the next 30 years to ride the storm out then go ahead. You have been warned.

 

[jasonhanjk]

Bought many kilos of silver during 2008-2009.
Sold my last kg of silver during 2011.

All made money.
Conclusion, investing can earn money as well as lose money.
The money I earn is the money someone will lose.