Quoted:
Quoted: Why would you want to buy silver at a 22 year high?
|
Because it might not be at its 50 year high or so.
|
Even if that was true, it's not going to be on a continual climb for the next 28 years. Even if you look at the years it was really high, you'll see even earlier in the year that prices were way down. In 1987 for example, prices were at about $5.30 in January, February and March.....spiked to $11 in late April, were back down to $6.80 in mid June and spiked a couple more times before leveling out at $6.80 again in December.
The high point for all of 1988 was about $7.80 and never climbed above $6.20 in 1989. Between 1990 and 2000 Silver never peaked higher than $7.85 with nine of those ten years all under $6.30 and mostly a hell of a lot closer to $5.
It never broke $6 from 2000-2003. From 2004 to January of 2006 it never broke $9 and spent the majority (we're talking 70%) of that time under $7.50 or even $6.50.
I'm no expert, but it seems like if you wait you'll be able to buy silver as much as 40% to 50% cheaper just by waiting a few months to a year. Take a look at the last 100 years of silver prices and I think you'll see the valleys are far more than the peaks in silver pricing.
I subscribe to buy low sell high, but maybe I'm just crazy. My opinion, now isn't the time to buy silver....it's the time to sell it. It could go higher, but there's better things to spend your money on. If you want some silver buy it when it drops back down, as it inevitably will.