Precious Metals–When to Begin Reducing Your Holdings
I often get e-mails and letters from readers about precious metals, and most of them are wrong. Many of them were about silver: In 2001, when I formally called the bottom, for silver, I got taunting letters. Those naysayers claimed that silver was heading down further, perhaps to $3 per ounce. In 2005, I started getting whining “I missed the boat” letters. That was when the silver bull was still just a calf. People have continued whining, ever since. In 2008, when silver was $9.80 per ounce, I got my first “this is the top for silver” letter. I’m still …