Again, its not too hard to do the math and see the profit there per ounce if we decided to sell today. We only bought that silver within the last couple years, so for us this would have worked out far better than a 401k or some other plan that we don’t have much control over.
As previously stated, diversification is a must. Once you’ve determined just how much you want to invest, be sure not to get caught up in one metal. Yes, we all love gold, but gold tends to do more poorly short term than silver or platinum which are both much more volatile for whatever reasons.
Let’s use a nice round number for simplicities sake. We’ll assume you have $10,000 you’re wanting to invest.
Immediately divide that amount by 4. So you have 4 increments of $2500 each.
You’re going to want to split that by the number of metals you’ve chosen to invest in, which I strongly suggest is at least 3 different ones....gold, silver and platinum being the most easy to buy and sell because the US puts out Eagles in all three of these metals.
Check out the daily metals prices for today at Kitco.com. This will give you an idea of what you are looking at as far as how much metal you are going to end up with.
Keeping an eye on the daily prices will give you the heads up if the prices start to fall.
There are supply and demand issues that come into play that affect the market, but believe me, without watching every single possible precursor that might affect the price, there's little to no way you are going to predict what the metal will do in the future.
Instead of worrying about what the metal will do, keep your eyes on what it has done and is currently doing ...forget the future at this point ..tomorrow will get here soon enough. What we’re interested in at this point is when to invest to maximize our profits over the life of our investment(s).
What to buy, what to run from
My first suggestion that you must get ingrained into your very soul is the word ‘spot’. Eat it, drink it, breath it, sleep it until ‘spot’ is on your mind day and night.
Say it with me.....”S-P-O-T”
Spot is the price that is being paid for any particular precious metal. Spot is your bread and butter, down to earth, goodness why did I pay so much for this worthless ‘collectible”, life saver.
As previously stated, diversification is a must. Once you’ve determined just how much you want to invest, be sure not to get caught up in one metal. Yes, we all love gold, but gold tends to do more poorly short term than silver or platinum which are both much more volatile for whatever reasons.
Let’s use a nice round number for simplicities sake. We’ll assume you have $10,000 you’re wanting to invest.
Immediately divide that amount by 4. So you have 4 increments of $2500 each.
You’re going to want to split that by the number of metals you’ve chosen to invest in, which I strongly suggest is at least 3 different ones....gold, silver and platinum being the most easy to buy and sell because the US puts out Eagles in all three of these metals.
Check out the daily metals prices for today at Kitco.com. This will give you an idea of what you are looking at as far as how much metal you are going to end up with.
Keeping an eye on the daily prices will give you the heads up if the prices start to fall.
There are supply and demand issues that come into play that affect the market, but believe me, without watching every single possible precursor that might affect the price, there's little to no way you are going to predict what the metal will do in the future.
Instead of worrying about what the metal will do, keep your eyes on what it has done and is currently doing ...forget the future at this point ..tomorrow will get here soon enough. What we’re interested in at this point is when to invest to maximize our profits over the life of our investment(s).
What to buy, what to run from
My first suggestion that you must get ingrained into your very soul is the word ‘spot’. Eat it, drink it, breath it, sleep it until ‘spot’ is on your mind day and night.
Say it with me.....”S-
Spot is the price that is being paid for any particular precious metal. Spot is your bread and butter, down to earth, goodness why did I pay so much for this worthless ‘collectible”, life saver.