Recently, I received couples of inquiries about buying precious metals. If you follow the news about gold and silver, you will find that gold spot price is at 1-year low (about USD 1200) and silver is at 2-year low (about USD 14.2). There’s no doubt that the spot prices right now are very attractive for aggressive investors.
I would like to focus on silver spot price at the post. The silver has been fluctuating within 14.3-14.2 for nearly two weeks. And the cost for silver mining will be about USD13/ozt which means the spot price really get close to the mining cost. Together with the rumour about US mint, I believe the silver spot price has reached the bottom. The rumour is about American silver eagle coins has been sold out and there will be a halt on new batches of silver eagle coins. I don’t know where the news come from and the accuracy of this news. However, some billions dealers have told me that silver eagle coins has been sold out and they cannot provide time schedules about when will be back in stock.
The bottom of the silver price will be USD13.9-14.2. And I truly believe and truly want that it will rebound to USD16/17. Don’t ask me when will the rebound happen. I don’t know either! It may take 1-year time. However, it worths the wait.