I’ve been reading more about the rise of gold prices than silver but
I deal almost exclusively with silver for my jewelry. I’ve
researched a bit on my own but find no hard answers and suspect there
are none or I’m looking in the wrong place or not knowledgeable
enough to figure what’s up.
Bottom line:
Is it time to consider a large investment in silver?
I don’t want to panic buy but we’re getting in un charted territory
for my work. My bread and butter is cheap bench work and $25-$50
pieces. I don’t know if the demand for my work would be equal if I
2x or 3x the price. I do make some higher dollar work that may
benefit from a price rise but in general I’ll be in a bit of trouble
if I get caught out in the cold with a steep silver price rise.
Is it time to consider a large investment in silver?... I'll be in
a bit of trouble if I get caught out in the cold with a steep
silver price rise.
some people consult the stars, etc before making a decision on an
investment, i consult http://www.kitco.com/market/ for the spot
market price of silver before ordering silver. right now the price of
silver is right up there with the stars at approximately $8.50+ -
[5000 ounce price]. could be another super rich bored industry
ex-guru afraid to take viagra anymore but wants to do something safer
but still exciting, like cornering the silver market.
ive
hasn’t that old warning about “going blind” been around long enough?
Is it time to consider a large investment in silver?
I would advise against speculating in commodities such as silver. If
the price of silver goes up, so will all silver jewelry prices, so
you’re covered. If you buy a large quantity of the metal at today’s
price and silver goes down significantly, you’re stuck with the more
costly silver and you can’t justify passing the higher price on to
your customer.
I learned this the hard way… When silver hit $16 per oz. in the
late 1980’s, I made the mistake of stocking up-- silver prices
droppped back to $10 per oz. almost the next week.
One strategy to consider when metal prices rise is to reduce the
size of your jewelry, thus keeping metal cost down.
I think I saw it here…go to www.kitco.com for historical silver (and
gold) charts, it is very interesting. No one will predict what the
markets will do, they have been so volatile of recent years, but the
historical graphs may help you answer your questions. Who knows
really what you should do.