By: John Fisher
Silver below $20! Yesterday the silver spot price dropped below a critical nominal resistance point of $20. Could it go lower? It is possible, but if you want to own silver, anything under $20 is a bargain.
Is the bull market in silver (and gold) over? Absolutely not! As long as money is being printed, deficits expand, debt levels grow, the dollar is marginalized by China, and India and others continue to slowly discard the dollar as the reserve currency, the fundamental case for precious metals is still firmly in place.We are actively buying and adding to our silver inventories. Four years ago when silver fell approximately 60% from $22 to $9 I couldn’t give it away. I didn’t buy the quantities I should have either. Silver then went on a run to $49, and I couldn’t keep it in stock. Now that silver has again retreated approximately 60% I will not make that mistake again!
Yesterday we had sales inquiries of over a million dollars. I am beginning to see smart money “buying low” in order to “sell high” in the future.
This is a four year price low. Silver is on sale. Join us in the silver savings! Free shipping on all orders of 200 ounces or more. All other orders $25.
All Things Considered – John’s Commentary:
We have a significant number of clients who are buying silver on a consistent weekly or monthly basis. They had been increasing their purchases as silver neared $20 and even more so now that it has fallen below that price point. They are averaging their purchases and will significantly increase their silver holdings at these price levels. There will also be a large number of our clients who will choose to “wait out” the silver price drop to see if it goes lower. Those who “choose to wait” will continue waiting and miss the opportunity to buy because one day the price will run up and away from them. They will miss the buying window altogether and watch the price pass $30 and higher.
Quote of the Day: “‘Market timing’ is unappealing to long-term investors. As in hunting deer or fishing for rainbow trout, investors have learned the importance of ‘being there’ and using patient persistence — so they are there when opportunity knocks.” – Charles Ellis
