I came across an interesting Reddit post in the Silverbugs community. It was asking stackers at what point they would be "priced out" of silver, or stop buying. It's a great question, since most of us are used to the roller coaster effect regarding silver price, and spread out of over months or an entire year. We're in uncharted territory now that each increase in spot price brings a new all-time high.
(Created with Bing)
At 3:37pm silver spot price was $71.53.
Six hours later and the price is up to $72.39. It used to be we were lucky to see a $0.50-1 movement in a week. Now, it's happening in a matter of hours.
Buy or Hold?
So the question becomes do we buy or hold?
Some indicated they'd wait for prices to come down substantially. That may not happen for a long time at this rate.
Others indicated they'd "nibble" and buy smaller fractional amounts. Some would buy whole rounds, but fewer of them.
One person commented and said they'd likely switch to buying 1/10oz gold instead, since they're used to getting a 10oz bar of silver for less than $500 and now that's not possible.
With such a dramatic increase in price, perhaps consistent purchases of fractional silver are the most prudent choice over simply waiting for prices to come down.
What do you think?
Buy DUO and stake to receive Hive dividends, tip others, have your posts curated, and grow Hive!
https://tribaldex.com/trade/DUO
https://hive-engine.com/trade/DUO
Do you like stacking gold and silver?
Are you new to Hive, or know someone new to Hive, and want help and support?
Have you been on Hive for a while and want to help new Hive members? Join HOC and help us grow Hive and encourage new members!
🎄🙏❄️
