Hi ho silver!

[Klaus]

I bought some gold a couple of years ago when an ounce was well below $2000. I wish I had bought more.

[jon-nyc]

I bought a bunch under 2k also. I have sold some. Maybe I have 135oz left or something like that.

[Horace]

Silver down 30% today, gold down 10%.

[Axtremus]

@jon-nyc said in Hi ho silver!:

I bought a bunch under 2k also. I have sold some. Maybe I have 135oz left or something like that.

Just curious ... do you take physical possession or just owning it on paper?

[89th]

@Horace said in Hi ho silver!:

Silver down 30% today, gold down 10%.

You called it!

@Horace_t3h_w1se:

But silver could so easily crash.

[Mik]

The real lesson from this selloff is not about direction or valuation. It is about liquidity — and what happens when too much capital tries to exit the same “safe” trades at once.

https://www.msn.com/en-us/money/markets/gold-and-silver-s-7-trillion-wipeout-delivers-a-painful-lesson-about-risk/ar-AA1Vm6ZE?cvpid=d671fed88e7747acaa140a4025017f9c

[jon-nyc]

Seems a little early to write that article. It’s been all over the map. Is anyone really sure gold won’t hit 5500 again this year? Or in February?

[Mik]

Or this week? Who knows. I still think they are good to buy at a low, if you can find one, and hold.

[Horace]

If I had to bet on when gold or silver will reach 2k or $20 again, I'd bet never.

[jon-nyc]

Probably a good bet

[Mik]

Never buy the top.

[jon-nyc]

Yeah when you hear them ring the ‘this is the top’ bell, time to sell.

[Horace]

also buy at the bottom bell. In this case, the bottom bell was more of a multi-year drone during which all the metals bulls existed in a constant state of wrongness. But now I see Peter Schiff on the podcast circuit claiming his bragging rights.

[jon-nyc]

Except he predicted a crash in 07-09 and then lost money when it happened. It doesn’t pay to have really precise theories about just how things will go wrong. Or at least to bet on them.