Mar 1, 2012
If you bought a lot of precious metals on February 28, 2012, then Leap Day was your nightmare come true. Gold down over $80 per ounce and Silver down over $2. However, today is a new day, and they're both up. While it may take a while for them to achieve new highs, they are quickly going through technical resistance points, and it could happen a lot faster than any of the "experts" believe possible. The key is to accumulate precious metals over time, never make big one-time purchases, unless you can do so at extremely attractive terms and prices. Slow and steady is the way to win the precious metals price race. At times you'll be averaging up and at others you'll be averaging down. But, you won't be experiencing the buyer's remorse that occurs after one of these dramatic pullbacks.
Remember, the price only matters when you're buying. Because, if you're like most precious metals investors, you won't be selling until much later and at much more advantageous prices. Or you may never sell, because gold and silver will be the only currencies accepted universally. Either way, if the time comes to start selling your metals hoard, you'll be purchasing stocks and real estate that are yielding 30 percent per year or more. So turn down the talking heads at CNBC, pop open a beer, and utter some prayers of thanks.
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