The recent pummelling that precious metals have taken may be my fault, after the price broke back at the beginning of May I thought the correction was over and ran out and bought a bunch of physical. It seemed a deal at $36US an ounce, as usual I missed the mark. Oh well.
My thoughts are this; I am buying insurance, everybody does. You insure your car, your house, your life; you never want to collect as that would mean that your car/house/life have been destroyed or damaged. I buy PMs as an insurance against economic collapse and, like the other insurances that I buy, I hope to go through life without ever testing to see how well it worked. That said, all other sorts of insurance is a loss while my collection of Silver Eagles can at least be used to teach my grandchildren to count.
If you are buying PMs to trade you have bigger stones than I and good luck to you. If you are holding physical PMs as insurance this simply represents an opportunity to aquire more. Either way, hang tough (and read the Turd).
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