Silver - Buy or Sell?
As a precious metal investor, seeing the price of silver drop to the $13s in depressing. Part of the reason I have purchased silver bullion is the safe haven aspect, which is not playing out right now.
However, looking at the crash of 2008 as recent history, silver dropped from $24.25 per ounce to $11.50 during that period, only to shoot up in 2009, 2010 and 2011 to upwards of $40 per ounce. Does this mean our recent drop from $19 to $14 could be similar to the 2008 crash before we spike higher over a prolonged recessionary period?
We could also be headed back to $6-$8 per ounce silver, which is where we were from 1990 through 2005.
What are your thoughts on the price of silver?
Thanks for coming by,