Buying gold, silver when to start?

Well I sold all my gold. Hope I don't regret it.
Now is definitely not the time to be buying it.
Then I went to the scrap yard and filled up a 5 gallon bucket with lead plumbing and roofing scraps and used a tiny bit of that cash to buy lead. So gold for lead.
I will buy back in when gold is at a 7 to 9 year low.

Things to remember:
No gold rally has ever lasted more than 2 years. Most golf rallies last around 1 year. Now gold can rally, go high and stay high for years but it will come back down eventually.

 

You may prove right, but you also have to consider at no time in history has the printed currency attained such levels as we now see, and will see more of in the future. Since gold is real money, and merely a reflection of how crappy the printed substitute is, I can't see any reason for printed currency to somehow become more valuable down the road.

I'm a firm believer in, and practice, Gresham's Law....that people hoard good money and spend bad money first as long as possible. I'll hold my gold until my last paper dollar is gone (or worthless) and then use it to purchase my needs. I'm not a market timer, I'm not 'investing' in gold.....it is just money to me.

 

Im also with @TnAndy in a better safer place to store my bank account.
I / We have been buy AG since the sixty's, and hording all silver coins from that time and before . Started to buy my first silver troy .999 oz 1965 for 1.30 per ..
Back then a soda pop 16 oz cold was 12 cents , that's all i can remember for food , fuel was for 1 Imperial gallon 50-55 cents or 1.24 usg ..
So my plastic /paper FIAT is getting devalued and inflation is hitting from the other side .
Just finished a deal (fulfilled last week) from an 2020 April buy .. RCM bars and rounds !!
Im good

S

 

I'm a market timer. Making money with out having to bust my ass for it is kind of nice. But I will never have enough skin in the game to be able to live off it as a job.

I still got hundreds of ounces of silver. I have never sold any silver.
Had I owned any substantial amount of silver in 2008 I probably would have sold it when it hit around $50 an ounce.

The reason why I sold my gold was no gold rally since I have been alive has lasted more than around 2 years. And this gold rally is about 2 years old.

The money from the gold is waiting to buy the next undervalued asset. It might be silver, platinum, iridium, solar panels, a rifle, a house.
I missed the chance to buy up the properties next to my rental house. I found out the day before or the day of when it was selling and didn't have $10,000 cash at my fingertips and I missed out.

 

@oil pan 4
It's all t do with age and where we stand .
I have been a rental owner of many in my way younger years, now @ 65++ , time to just get all my projects finished up and take more bike rides and sail more for fun plus Notar time.
Seeing south america state and what is happening to the greenback , i have just seen from 2020 year of the nuts still going on where I was weak ..
Sloth

 

First solar panels I bought in 2007 were 175w panels (about the biggest I could find then) and they cost $4 a watt. I ordered some 320 watt panels today for 53 cents/watt.

And gold is up nearly 40 bucks over the last week or two.

 

My whole home solar set up getting installed in august!

 

Hmmm.....only 4 down years out of the last 15. Gold bought in 2005 has averaged 10.5% return. Not an Amazon or Tesla stock by any means, but beats having it in any bank (for multiple reasons). I bought most of mine in 05/06 when I sold off my rental properties and converted the profits to gold. Maybe I am a market timer and just don't know it.

 

The value of a stock can drop 99% to 100%. We know the value of gold will never be drop like that.
It might lose around half it's value but it would only be temporary.

 

Have you been watching gold and silver today???

 

Where are the panels being installed ? roof >? ,,HOW old is roof ? Cuz I put on a metal roof with 48 panels keeping the metal dry . Metal good for 50+ years .. All panels are removed for a roof replacement !! Just saying Ms .

YUP ! and picked up another monster box from the order i did in April ..
Sloth

 

Actually we were seriously considering putting on a new roof before having the panels put up but the house is only 5 yrs old.

 

At $24 an ounce I start selling silver.
By the time it hits $30 half my silver will be gone or in the process of selling and by $50 I will only have enough on hand to make colloidal and other personal products that can't be sold, stored, transported or used in a commercial application.
I have old legacy bars, JM, engelhard, pamp, VW/nazi that I will sell when there is a price spike and a shortage. Legacy bars will go for like double spot for some reason. So I'm saving them for closer to $30 an ounce and when there's a bit of a panic. I could sell once ounce of legacy during a panic and buy 3 or 4 ounces of no name silver a year or 2 years later when no one cares about silver and the price is down.

Remember silver rallies last 9 months to 1 year max. They have a very short life.
They peak faster than gold and crash harder.
Silver could double from what it was a few months ago. Gold likely won't double from its relative low from around a year ago.
Absolutely do not buy silver now.
That boat has sailed, caught fire, hit an iceberg and a Rouge wave, rolled over onto a sea mine...
When I said buy silver earlier this year, or nearly 2 years ago when the price was flirting with 9 year lows that was the time to do it, not now when the rest of the heard is panic buying it.

 

We are about 4 months into this silver rally. So best case scenario is its half way over. I doubt this silver rally will last a year.
The election would be just about perfect timing to end a silver bull run.

 

holy crap, Gold, Silver, BitCoin, basically anything that isn't the US Dollar is on a tear right now.

 

The effect of massive paper printing is starting to become apparent. I don't think there will be any more typical "rally" and major pullbacks as OP4 says......the FED and the govt are now trapped in a situation where they can't allow interest rates to EVER rise again (the FED will 'buy' whatever amount of debt the govt issues to insure rates stay low), the economy is in the toilet for many millions of Americans, and huge deficit spending, (likely going to Universal Basic Income) is going to continue as far as the eye can see.

My prediction is gold is going to 2500 to 3000 over the next year or two.....silver I hesitate to put a number on, but certainly well past the previous highs of 50 bucks. Precious metals are going to perform their traditional roles of being a store of value......one of the primary properties of MONEY. Their rise in dollar terms is not profit, merely a reflection of how bad paper currencies are becoming.

My advice would be sell no metals unless you need to sell them because you're out of paper dollars and need to buy something. There likely will be dips in the prices of metals to some degree......nothing ever goes straight up.....but just like the yearly low spot price for silver this year, it was nearly meaningless as dealer premiums keep the actual cost to buyers at the REAL price. Right now, for example, silver is hovering around $24 spot price, but the most basic one ounce silver round at APMEX is $28, and US silver eagles are $34 IF you buy 500 of them......$36 if you just want a few.

 

I'm selling some of my silver. I listed it on ebay for "high full dealer amount" I didn't think I would get any bids on and less than 8 hours later they're getting bids.
You better not be buying.
If you're buying now you F'ed up.
You should have been buying about 2 years ago when the price was at 5 year low and trying to tie a 9 year low.
This is a silver rally it will climb higher, faster than a gold rally and crash harder and for longer.
When the price goes back to normal best case scenario you will be sitting at around a 20 or 30% loss if you buy now.

Some of my premium bars are selling for $35 an ounce. Sell them now, sit on the cash for a few years, maybe as little as a year and hopefully replace that 1 ounce I sold with 2 when the price dips.
Plan is sell 20 to 25% of my silver if prices stay around $24 to $26 and then $26 to $28 sell up to a third, then at $28 to $33 sell half to 2/3.
But if the market goes ape shit crazy, all the dealers are sold out and you can sell for $10 to $15 an ounce over spot, sell nearly everything if I can. But when the market goes nuts like that it doesn't last very long I have so much silver I probably couldn't list it and ship it all before the bull stampede was over.
The market could go ape shit crazy under $30 an ounce.

 

Oh and all that silver shot I was stupid for buying a few months ago ,when the sliver price was down buy no one had any silver coins or bars for sale, well I could sell that shot today and make at least +$10 an ounce.
Yeap, I feels really atupid.
I think I better get it sold, make like 40% in like 4 months on any investment is on fire.
I only feel stupid for not buying 2 or 3 hundred more ounces.

 

So the regular old APEX silver buffalo rounds are selling for how much over spot?