The great correction

Many readers have been personally emailing me regarding information on investing in Precious Metals especially the alarming situation that greatly pumped the prices to staggering highs. I apologize if I am not able to respond promptly to everyone regarding their queries since it becomes impossible to interact with each one of you but I appreciate your interest in this subject.

For those who would like to start their acquisition of precious metals and are in the Luzon area, you can check www.philtecgoldatmanila.com, they are a refinery that sells and buys precious metals. I have referred many to this site and many have successfully bought their first holding from them since they are based in Makati. Another source is a refinery in Bicutan called PMR Golden Dream, you can check their contact information in the yellow pages of the PLDT directory under "refineries". There are also many legitimate sources out in Bulacan and Bicol, both of which have supplied me with actual metals.

Many have been asking me if I am selling anything through the blog, well, I'm not. But if you need help to acquire metals especially by the kilo then I can help you out for a little spread. If you say that I am doing that full time, my reply is NO. I am basically a Precious Metals Investor, holding for the long term and not a trader.

One of our readers had a very great grasp of the market when he was able to trade his metals while the prices where high (near 50$/oz) and that was perfect timing, this guy made a real killing. I, for one am not quite consistent in checking the prices since I know the fundamentals generally lead to a price hike over time. But most investors need to understand that the behavior of the metal prices tend to have "correction phase" or what I would personally call a "resistant price ceiling" it will attempt to run real fast, come down and move sideways before it continues it's bullish ways.

Do not be deceived that the prices are going low, this is signalling a good buy for everyone. Buy while it is still at mid-30s (as of today). Go to those referrals I have made at the beginning of this blog and get you some of them precious metals.

What I would generally advice our kababayans is not to be too obsessed with watching the price go up, because it will, it is just a matter of time. It is better to have a systematic way of saving up month on month to build your portfolio of actual metals. Some like to trade using ETFs which are fairly liquid but this takes a little sophistication on your part. If you do not know where to start then it is best to buy a little month on month. The refineries will buy your stocks below market price but if the price has gone up so rapidly then that won't really matter at all.

Good luck y'all!