By Jay O'Keefe

For the last 12 years, we have enjoyed one of the longest and most powerful bull markets in history. Both gold and silver have increased in value (at annual. double digit rates on average I believe). No bull market goes straight up forever. It must be "corrected." Be prepared for a correction lasting from a few months to a year or so. Be prepared for the correction to be as much as 50%. When it's over, both metals will head back up to new all time highs. The bull has much further to go. That is a no brainer. For 3,000 years gold and silver have retained purchasing power while thousands of unbacked currencies have gone to zero.

How short our memories can become. In 2008, silver fell from 20 to 9, approximately a 50% correction. I bought some at 9 and advised others to do so. Following the correction, it headed back up and rose steadily all the way to 50. It will happen again. When and how long, no one knows. What I do know is that the experts will buy (perhaps down to 20...Look at your chart), while the late comers will be scared out, or forced out. The experts do their buying after crashes, sitting with a comfortable cash reserve (and tons of patience) waiting for the crash. Never use borrowed money to invest, nor money you can't commit for 5 to 10 years (my counsel). 

Study the chart going back 12 years. It will give you valuable perspective.

Another thought. If I did not have a normal position in silver (whatever I determined normal to be), I would buy some here, then hope to buy more at 20. 20 looks like great support on the chart to me. 

Finally, it's important to keep in mind that the most important investment is in eternal things, like a close relationship with Jesus Christ, the Word of God and people. The Apostle Paul compared these things to gold and silver (which God imputes value to in this life). 

For other foundation can no man lay than that is laid, which is Jesus Christ. Now if any man build upon this foundation gold, silver, precious stones, wood, hay, stubble; Every man's work shall be made manifest: for the day shall declare it, because it shall be revealed by fire; and the fire shall try every man's work of what sort it is. If any man's work abide which he hath built thereupon, he shall receive a reward. If any man's work shall be burned, he shall suffer loss: but he himself shall be saved; yet so as by fire. - 1 Corinthians 3:11-15

Whereas ye know not what shall be on the morrow. For what is your life? It is even a vapour, that appeareth for a little time, and then vanisheth away. - James 4:14

After a long time the lord of those servants cometh, and reckoneth with them. And so he that had received five talents came and brought other five talents, saying, Lord, thou deliveredst unto me five talents: behold, I have gained beside them five talents more. His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. - Matthew 25:19-21