Sold Silver

Ok, so anyone who bothers to read this knows I’m a bit of a silver bug, but with the all the uncertainty over the US debt crisis and Eric Roseman’s prediction that silver is going to fall very soon, I sold my holding at around $39.23/oz. It had already dropped from nearly $40/oz yesterday, and by the end of today had fallen to $38.58.

I’ve been following Eric’s advice quite closely because he accurately predicted the collapse back in May when silver briefly hit $50/oz. Now he reckons the price will fall back to $32, maybe $30 or lower, so I’m going to sit tight and buy it back if/when it drops to those levels.

I still think that long term, silver is a great investment.

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