1 Answers: If I have debt, should I sell off my precious metals?

Question

I have roughly $7k in credit card debt. I make more than the minimum payment, but 1/2 of my payment each month is just the interest.

I also have about 200 ounces of silver. I know the metal is down in value right now, but someone is offering me $15 an ounce so that could be $3000 towards my credit. But my concern is silver finally spiking again… but of course I have no clue if or when such a thing will happen.

Should I hold onto my silver or focus that asset towards my debt?

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Anonymous 8 months 1 Answer 75 views 0

Answer ( 1 )

  1. You should probably be looking to hold on tightly to your precious metals like gold, platinum and silver. These can be very valuable as we enter the economic crisis which is fast approaching.

    If you really can’t afford to keep them because of debts and you have done the math then perhaps better to sell overall. But really we are buying gold to hold while we wait this next market cycle out.

    Selling all stocks and buying precious metals.

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