Would anyone recommend buying into the ETF for SLV in addition to buying physical silver? Also, where does everyone buy physical silver? Thanks for any feedback.
The spot price is the current on going market price. However, usually, you can't buy silver or gold at the spot price. There's usually a premium attached when you buy.
The closest analogy I can come up with is the spot price for silver and gold is similar to the wholesale price or at cost price at a car dealer. When you buy a car from a dealer, it's typically not at cost as the dealer tacks onto the price for their overhead expenses and profit. Similarly, a precious metals dealer also adds something above the spot price to cover their overhead and make some profit.
I know some don't, but I do. I buy SLV and GLD off and on, but I wait for dips. It's fairly consistent profit. Of course you can get big up and down weeks. It's down 40% for me this past week, but I buy more because I'm me.
For me, yes. I bought more today being down 40%. I don't allocate too much to it, but I do buy a few contracts every 5-7% points to DCA. I've never been down this much. I just can't forsee silver dropping much more, but then again, I don't rig the markets.
I am buying more SLV. It's down another 12% today, grrr. Long dated option so I'm not too stressed. I'll probably eek out with a 0-1% gain when it's all over with (unless big moves happen).
I did buy and sell yesterday as it came up a bit to lower my DCA. So I'm only down 34% now. :)
Thanks Chris. I have been watching SLV and GLD. I only have a medium-sized safe to store any physical that I may buy but wasn't sure where the best place would be. I have watched both ETFs SLV and GLD and thought that would be easiest to buy and sell as I have TD Ameritrade.
Fortunately I missed the boat on the last few buys due to the hurricane and no internet, so I bought yesterday. Might be a blessing in disguise.
Thanks Greg, Good Morning LIONS, and its going to be a great day for sure, and WE GOT THIS!!!
Bullish!
Would anyone recommend buying into the ETF for SLV in addition to buying physical silver? Also, where does everyone buy physical silver? Thanks for any feedback.
I buy pslv, sprott physical bullion trust , registered secured physical (in Canada) trades like shares. Lots of times you can buy the shares at a discount to the silver the fund holds, like today! ☺️ https://sprott.com/investment-strategies/physical-bullion-trusts/silver/net-asset-value-premium-discount/#
And physical but only what I would be able to carry
If physical silver, I usually just look for a reliable dealer with lower premiums in relation to the spot price.
is the spot price the going retail price?
The spot price is the current on going market price. However, usually, you can't buy silver or gold at the spot price. There's usually a premium attached when you buy.
The closest analogy I can come up with is the spot price for silver and gold is similar to the wholesale price or at cost price at a car dealer. When you buy a car from a dealer, it's typically not at cost as the dealer tacks onto the price for their overhead expenses and profit. Similarly, a precious metals dealer also adds something above the spot price to cover their overhead and make some profit.
I know some don't, but I do. I buy SLV and GLD off and on, but I wait for dips. It's fairly consistent profit. Of course you can get big up and down weeks. It's down 40% for me this past week, but I buy more because I'm me.
do you consider this a dip on slv and gld now (on the stock market)?
For me, yes. I bought more today being down 40%. I don't allocate too much to it, but I do buy a few contracts every 5-7% points to DCA. I've never been down this much. I just can't forsee silver dropping much more, but then again, I don't rig the markets.
Still buying on the dip?
Begrudgingly. Hey, I think I spelled that right.
I am buying more SLV. It's down another 12% today, grrr. Long dated option so I'm not too stressed. I'll probably eek out with a 0-1% gain when it's all over with (unless big moves happen).
I did buy and sell yesterday as it came up a bit to lower my DCA. So I'm only down 34% now. :)
I also bought more today... what date is yours? Mine is nov 20
Thanks Chris. I have been watching SLV and GLD. I only have a medium-sized safe to store any physical that I may buy but wasn't sure where the best place would be. I have watched both ETFs SLV and GLD and thought that would be easiest to buy and sell as I have TD Ameritrade.
Wondering if we should average down on positions if SPX holds key levels.