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Denny

Should I sell my silver now or wait for the economy to stabilize?

I bought $200 of silver a few weeks ago at 20.50 an ounce. Now its $2 lower. Should I sell it now to avoid a huge loss or wait possibly years to get a fair price for it?
Goodbye, Cruel World:

Don't worry about such short term changes. Precious metals are usually very countercyclical and are a good hedge for other investments, especially stocks.

The fact that it just fell reflects the fact that the stock market went up at the same time. The stock market is just reacting to the Federal Reserve's rate cut.

The fact is, you chose a poor time to buy silver but only for a short term view. It will recover, giving the right economic circumstances.

As long as you do not sell it, you have no real loss. It is still the silver that you bought. When you need to sell something, you can consider it along with your other options.

Linda:

Well do you need to loose money now or take a chance?

Texas Girl:

hold on, just wait it out, my broker said to keep still and wait it out. silver, gold, stocks just wait my friend.

Lee:

well, from a economic standpoint we are due for a recession and with a democrat coming up for president I'm sure it will go into a depression, so in other words yes sell it all and keep it out of the banks

Denny:

Why? I can trust my bank. It's FDIC insured.

Lee:

yeah but you never know...once the government collapses, which i really hope it doesn't, then the FDIC will go down the drain. FDIC was created in order to stop people from losing money once a bank closes but imagine that if 5,000,000 banks closed in AMerica with in a couple of moths, that means the government has to pay all those people 100,000 dolor's to whom ever lost it, and currently the government only has a couple billion dollars on paper as we speak, so regardless unless you want the government to write you and IOU for 20 years in the future, sell the silver and keep it in you pocket.

Lee:

Its never possible to be too safe, but in life there are gambles. So when it comes to predicting the future who knows, the exact opposite could happen from what i said and the democrats do their thing and who knows it is possible to skip depression and go back to prosperity. Anything can happen, someone could develop a car that runs off of grass and we could all be driving them tomorrow

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