Looking at the technical chart, silver is pushing higher even as momentum formed a lower high. It suggests a higher level of risk to enter at this point in time. I remain sidelined and will wait for a pull back before adding to my long position.
UOB is selling silver at S$49.77 /oz today. My initial investment in silver slightly more than a year ago has more than doubled even in S$ terms. That is amazing and I am more wary than ever.
5 comments:
Don't need to be wary. Precious metals will outperform stocks. This is the decade of the metals. This is the mega trend. Securities are in a secular bear while precious metals are in a secular bull. We are only at the half way mark.
Hi Anonymous,
I agree on the longer term trend. I am wary of a short term pull back which is why I am not adding to my long position at the current prices.
Could you include your name or initials in future comments? Thanks.
Hi AK,
The price seems to get higher and higher each day.
What's price would you be looking at to add on?
thanks!
k
Hi k,
Yes, for those already vested, it is quite exciting seeing the price going higher. For those who are waiting to get in, it might not be so exciting.
I observe that corrections for silver got shallower. It almost tested the 100dMA some months back but the recent correction only tested the 20dMA.
Prices do not go up in a straight line and I will only buy on weakness. Instead of waiting for a correction to the 100dMA, perhaps, buying some if price were to test supports at the 20dMA and the 50dMA would be a good idea.
Hi AK
Noted. Will monitor and buy accordingly.
Thanks!
k
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