Well, the beginning of the Year brought a mad rally in the PM market, just like in many other commodities. Now we are experiencing a pullback which can be pretty agonizing, but silver and gold are finding support well above anything we dreamed of a year ago.

I am reading some PM newbies who bought silver at $20 or gold at $1k who are really worried about their investment. Of course, most of us have been playing this game a long time, and we have added to stacks when silver was $6 and gold was $600, so we can average the price over that long term move, and losing a little here and there is no reason to panic when looking at long term gains.

I am still bulllish, and even added to my stack a bit this week-end. However, I am not quite ready to plunge back in with both feet at these levels. I could either be very relieved next week or I could be kicking myself. Nobody has a crystal ball.

Please add your thoughts to the forum!

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