About Buying Gold and Silver

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Based upon my observations and experience, this is NOT the right time to panic and buy gold or silver. Bullion dealers are now charging an extra premium on purchases that was not being charged last month. This feels like price gouging to folks who feel the need to acquire precious metals. Resisting the urge to buy will lower demand and dealers will have to lower their ridiculous commission rates.

Before the CV crisis, you could be silver for 70 cents to 1 dollar over the ask price. Now they are charging $2.50 to $3.50 over the ask price per ounce. Resist the urge to buy and the cost of purchasing should go down.