Now is the time to get into the gold/silver action. With prices down over 15% since last week, now is a prudent time to get involved. Silvercorp and KGC are both excellent buys as well as the phsical. You will not see silver and gold at these weak of prices for long. It has been sold off from the recent Bernanke speech (regardless if it was manipulation or not, it presents an excellent time to get in). This buying window will not last long and suggest picking up a couple hundred shares of each of the above companies as they are the most undervalued in the mining market. SVM (Silvercorp) carries no debt, no hedging, has around 65 million ounces of silver in Proven & Probable reserves, and has negative cost per silver ounce... i.e. meaning it doesn't cost them anything to mine silver. Silvercorp has dropped below the 7$ trading range and is a bargain at this level. It will be headed to around 6.50$ today as long as silver stays at this depressed of a level. If you can get shares at anything under 7.50$, I would initiate your first tranche.
KGC (Kinross) is in the same boat i.e. 62 million ounces of gold in Proven & Probable reserves, no debt, excellent management team, and is poised to become the biggest gold producer in the world in the next few years. Buy now to get ahead of the crowd as I am certain these are great buys. As with it's price action it is under 11$ and I consider anything under 13$ a buy for this company as they and SVM are being undervalued by the market.
Both of these companies are Canadian owned but are traded on both the TSX and NYSE. This is a bonus buy b/c they are Canadian and it diversifies your risk even more as you buy internationally. Canadian miners are historically the best PM miners in the world.
Disclaimer: I do own the above mentioned stocks and do not intend to sell within the next 72 hours. I will be buying more shares in the next 48 hours. I currently have 2100 shares of SVM and 500 shares of KGC.