If I am interested in getting silver and gold for the long term like 3-indefinite years, should I be concerned at all about timing my purchase at as low as possible of a price? I know it would take some discretion so as not to buy the day after silver is up $5 or something ridiculous like that, but as long as it's not peaking should I really worry about it that much?
Use dollar cost averaging. Figutre out the amount you want to invest - say $5000 - and when you'd like to be invested by - say 10 weeks from now. Split it into lots of $500, and buy $500/week for the next ten weeks. Statistically, it's the best way to maximise your value without any market timing.
Use dollar cost averaging. Figutre out the amount you want to invest - say $5000 - and when you'd like to be invested by - say 10 weeks from now. Split it into lots of $500, and buy $500/week for the next ten weeks. Statistically, it's the best way to maximise your value without any market timing.
We are in a down silver market at this time. It get tempting to wait for a better deal. Once it starts to move though it will move quickly and then silver will seem to be over priced even is it's not.
I went to a coin dealer today and they wanted $16 for silver eagles. That's $4.50 over spot. Seems kind of ridiculous to me. Perhaps ebay is the way to go.
Timing
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Posted - 07/28/2006 : 23:57:48
