Is now a good time to buy silver? Many investors are asking the same question over and over again. Here I will outline all the reasons for silver.
Is Now a Good Time to Buy Silver?
Now is a good time to buy silver, as the US silver Eagle sales in May surged, compared to the previous month. This is interesting, as precious metal sales and sentiment have declined in the West, especially in the United States. ever since Donald Trump was elected President.
Most precious metal analysts and investors, (including me) thought the Trump election win could be very positive for the gold and silver market. Unfortunately, this is not the case, as demand for precious metals declined considerably in 2017. I assume, the general public actually thinks Donald Trump is going to make America Great Again.
My humble opinion is that this is a bad assumption because with Donald Trump in the White House nothing has changed. President Trump I am afraid could actually speed up the collapse of the US economy and financial system.
The fundamentals of the US economy continue to disintegrate. The economic bubble indicators have reached what took place in 2007. In addition, the US and the World Oil Industry, are losing money and at the same time, they have been cutting their oil reserves. It looks like the situation now is worse than what took place during the 2008 Global Meltdown.
According to the recent update provided by the US mint, silver eagle sales reached 2,005,000 oz so far in May, compared to 835,000 in April. This is a 100% rise.
The reasons for that were due to the following.
1-There was an extremely large investment by a single wholesaler.
2-There was an increase in buying for the small investor, who took advantage of the lowest premiums in seven years.
3-There was a buy signal for silver by a group of respected analysts.
Although 2 million silver eagle sales in May are much less than they were last year, (4,498,500) this surge in demand suggests that the hype about the Trump presidency may be fading away.
If the strong demand for silver continues for the remainder of May, we could see silver eagle sales reach 2.5 to 2.8 million ounces. This definitely lower than last year, but it is a sign that the market is actually seeing something that it does not like at all.
At the same time, silver eagle sales outperform gold eagle sales. In March silver eagle sales were 1,615,000, compared to gold eagle’s sales of 56,000 oz, and in May silver is over two million ounces with gold’s only 42,000 oz
It is a common secret that the Bond, Stock, and Real Estate markets, are developing into the biggest bubble ever. When this bubble explodes, then god helps us all. I do not think so! God will only help those who actually possess precious metals.
Over the years silver IRAs are gaining in popularity. It is not an unusual decision for an investor to invest part of his IRA in silver.
I hope my is now a good time to buy silver? post has been helpful to you. If you still have any questions feel free to let me know in the comment section.