I'm looking to buy a significant amount of gold but i'm hesitant because i'm not sure what to expect going forward... Should i wait? If so, how low will it go??
I do not mean to be rude in any way, it's just I guess you're the only person that can answer the first question and nobody knows the answer to the second. Seems to me that we're all in that situation, but to end on a positive - somebody's post that I read on this forum recently contained this quote (can't remember who) " the money is made on the buy"
If you are afraid that the price of gold will go down but you have fear of "missing out", just buy the amount that makes you feel comfortable now and spread the rest of purchase over time. Unless you have a very specific reason for buying bulk now, of course.
Average the purchase to a steady amount per month. This is a saving up method where the risk are spread. Looking at the full year chart Gold price hit USD1130 per oz on Nov2014, 1140 on Mid March 2015 and 1080 on August 2015. Usually when Gold per oz hits USD1100, its a good time to buy. However its only 3-4 times per year that the price drops to such pricing. Today, at USD1108, good time to buy some. If you are looking to save up, monitoring would make the habit of saving more interesting. I am not speculative hence the sharing.
