WHY I AM BUYING SILVER NOW
18-Nov-2011I have been buying gold and silver for the last ten years and telling anyone who would listen that they should do the same.
The question most people ask is 'Haven't I missed the boat?". It's a good question, and yes, you have certainly missed some gains but have you missed the boat? Certainly not - not by a long chalk
So this week I am once again topping up on silver and in a big way. Why? Because I think it will show massive gains over the next 12 months and I don't want to miss those gains. At the time of writing silver is between $32 and $33 an ounce which is just over £20 an ounce for someone like me buying in sterling. Already this year we have seen silver as high as £28 an ounce so the current dip in price is a chance to get in at what I consider to be bargain prices. For me it is the classic chance to buy on a dip.
Is silver for everyone? Well I accept it is a volatile investment but of course that works both ways. When you are looking for double digit returns you don't want something that simply languishes along the bottom month after month. I firmly believe that every sensible investor should have some of his money exposed to silver, either through direct investment or through silver mining companies.
Now I can write a dozen pages about why I think silver is about to go a lot higher and why I think you should buy now. I can talk about the industrial demand, the shortage in the supply chain, the long-term relationship between gold and silver being so out of kilter with the historical average - but all these things pale into insignificance when you look at what the central banks are going to do over the next 12 months in an attempt to solve the global debt crisis. The only way the current debt crisis can be resolved is through either default or through the printing of money. As I said in this week's newsletter, chances are it will be a combination of the two.
Whilst I always recommend taking physical possession of gold, when it comes to silver, I prefer taking paper certificates, but only certificates I know I can trust. That is vital.
If you too fancy getting into silver I will be writing a great deal more in forthcoming newsletters but if you want more information before then just drop me a line at barry@wealthshare.co.uk and I will be happy to give you the inside story. I am afraid the entry level will require you can stump up $10,000 which equates to around £6,500 but the way I see silver going in the year ahead, I don't think you should be mucking around with an investment much smaller than this anyway.
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