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Sprott Physical Silver Trust ET (PSLV) Message Board

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  • buzz60016 buzz60016 Mar 25, 2011 1:50 AM Flag

    Like Buzz says, BUY THE DIPS

    It is America, you are fee to buy and sell as you please.

    This is a message board, share ideas, or act stupid. People have choices.

    Personally, buying a little each month has worked out good for me. Sometimes I buy more than a little, during steep corrections.

    Silver coins I was buying at $10 and $15 seemed risky, now I feel smart or lucky, one of two. I will buy a little more physical at the end of the month.

    When Sprott opened PSLV, I purchased a lot at $10 and $11, seemed risky to me. Also purchased PHYS. Silver has been, by far more profitable.

    Also been buying mining shares over the past 5 years, NEM and ABX. Been disappointed so far, but we will see what happens in a few years. No rush, dont need the money yet. Mining stocks have a low P/E, with a lot of room on the upside.

    I've wondered often, why mining stocks are so out of favor, or why their is not appreciation in price? Miners have stoped hedging ? Maybe the public is not buying and bidding up the prices. Most of the public does not understand QE1,2,3,4 and so on, nor does the public understand the effect of inflation on a retirement account.

    Buying assets silver, gold, foods, oil, should do better than stock over the next several years. Time will tell.

    Silver and gold will get ahead of themselves, steep corrections will be painful.

    20% is nothing to worry about, IMO.

    What does worry me ?
    It only costs $7 to mine an ounce of silver. It only cost $400 to mine an ounce of gold.

    Why then does silver trade at $37, and gold at $1430?
    For the same reason, it only cost $35 to pump a barrel of oil out of the ground, yet it sells for $105/barrel. The answer lies in supply and demand. As long as buyers are willing to price will stay high, or go higher.

    $200 a barrel oil is not far away, nor is $400 a barrel oil.

    When Nixon was President - Gold as $35/oz. Inflation with a falling dollar is a powerful force for precious metals.

    China will want to be a global power, a super power. China does not want to stuck, with a ton of US Debt. China is buying all the gold and silver they can. This push silver and gold higher, a double from here in the next 5 years or so.

    Will it play out this way? No crystal ball here, but it seems reasonable expectations.

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