Precious Metals in a funk
Gold, Silver, Platinum, and Palladium have had a tough time as of late. Gold is doing it’s best to hold above $800, Silver struggling to keep above $13. Platinum is hovering right around the $1400 range, and Palladium can’t seem to get back above $300. Each of the “big four” precious metals has seen a hefy drop from highs made earlier in the year. So, what’s a precious metals investor to do?
Do you still have the same number of ounces?
Go to your safe, safety deposit box, or hole in the backyard. Count the number of ounces in your posession. Do you have any less ounces than you did at a higher spot price? Of course you don’t. That’s part of the beauty of precious metals. Sure, the dollar value can be confounding at times. But your holdings haven’t changed a bit. If you had 100 ounces of silver at $19 per ounce, you still have the same 100 ounces in your posession - even though silver is at $13 per ounce. Rest easy knowing your stack is safe and sound. You are in this for the long haul, aren’t you?
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