I've been expecting both gold and silver to dive from current highs. I'll probably invest seriously once they're back down to a reasonable level. (IMHO the current level absolutely screams "bubble".) But I didn't buy the silver Bitcoins as an investment in anything but making some family members happy. It will do that. :-)
Gold yes but I'm not sure I agree on Silver. Inflation adjusted it's cheaper than anything else right now and far below the famous Hunt Brothers bubble. I am very curious as to what the thoughts are on the crash this past week. Although gold will be the news items silver fell 20% and was IMHO already under priced in comparison to gold. I am very tempted to check out some local coin shops next week to see how they have price adjusted for the fall.
I bought a few eagles on Friday. Figured if it bounces back up, I've got them, and if it drops more I'll buy more.
But yes, I think the gold sell-off triggered sell-offs in other precious metals, rather than this being a legitimate market correction for silver. When gold was climbing like crazy over the past few months, silver wasn't climbing in lock-step. It wasn't getting any sympathetic rise on the gold action. So hopefully silver will bounce back with people buying on the dip. Still, a year ago it was only worth $21, so a continuing drop or sideways action isn't completely unrealistic.
