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Message Subject I have 7,000.00 should I use it to buy gold or silver?
Poster Handle Anonymous Coward
Post Content
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


If you have no emergency fund, put $3k of that money into a high-interest savings account and then buy 50 silver Maples and one gold Maple (or two 1/2 ouncers, but then you end up paying a higher premium).

The worst thing to do is go all in on metals if you do not already have any. The price is high now, but it could very easily tank and stay there for years, especially once the Euro doom blows over and perhaps with a change of President in the US. The best approach if you are in for the long haul is to buy SOME now, and then down the road add more when the price goes down so that your average price per ounce decreases over time.
 
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