Saturday, March 22, 2008

Good time to buy Silver

Heads up! If you haven't been watching the price of silver, it just dropped about $3 an ounce in the past couple of days.

Like I have stated in a previous post, I am not an expert on financial subjects or trading commodities, but I do pay attention to the news. One week ago the Fed made a bunch of moves to shore up the US economy -- like cutting the Prime interest rate and pumping money into some banks, etc. It is all too complicated for me to think I know what is going to happen next... I don't! However, I would say that if you depend on buying silver to produce your goods, it is a good time to buy. I doubt that the spot price will drop much more and will eventually creep back up.

Remember the spot price is relative. It does seem like it hurts to pay 3x what we did just a few years ago, but everything else is more expensive too, so it really is just a reflection of the weak dollar, oil prices, etc. Personally, I'm happy that I am involved in the Arts and live in this modern age when I can readily get silver (at any price) and express myself this way producing my own adornment so I am grateful.

So, prepare your order and call it into your supplier first thing Monday before the market takes off, in order to save some money.

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