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Is This a Good Opportunity to Buy Silver?

Silver has hit a 2.5 year low and, according to The Street (article in which we can read further about today's silver price drop).

Silver has dropped to 21.15 $, but due to the high premiums that bullion dealers are practicing nowadays, many stayed away from buying coins and bars. Despite this, the drop was a good buying opportunity for many bargain hunters. Silver spiked, as buying pushed it up above again at a maximum level of 23.40 $.

Could this be a great opportunity for buying silver?

Nevertheless, if you check the charts, then you'll notice the sharp downward price "slope" of silver. It's even sharper than gold's correction, so far. While silver has reached a high of over 47 $ in 2011, now we're seeing prices in the 21-23 $ range, oscillating. Gold has reached levels above 1,900 $ in 2011, but now it's trading in the mid-1,300's.

Silver's potential for growth is higher, for obvious reasons: for now, the developments are showing us that silver might indeed crash (this will bring tremendous buying opportunities) and, we should not forget about silver's profit-making potential.

The best silver buying opportunity in years may be coming in a matter of weeks, perhaps months.

While in April and early May, gold has dropped more, something seemed to have kept silver from falling further. The brake is now loosening and the metal has recently breached the 22 $ support level.

If the silver crash indeed occurs, then we might see prices in the 15-20 $ range. A tremendous buying opportunity, which will certainly pay off, in case you invest now without too much hestiation and liquidate your positions a few years later, when silver prices will hopefully be much higher.

Even for beginner stackers, it's recommended to check the metal's recent price trends, but also some basic information about silver.

This might as well be a very rare opportunity to buy silver. One that may not repeat itself in many years. Take advantage of this correction and you might even multiple your profits in a few years. Or, if you prefer to stack and keep your metals, then again - this period will be a very good opportunity to buy.

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