When to buy gold?

Discussion in 'General Precious Metals Discussion' started by wones, Nov 10, 2019 at 5:47 AM.

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  1. wones

    wones New Member

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    New stacker here, with the current price of gold at this moment, are most people buying or holding off and waiting to see if the price drops lower? Not sure if I should wait or buy some now...
     
  2. SilverDJ

    SilverDJ Well-Known Member

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    A lot of people are looking to see what it does at present as it's kinda on a knife edge. But we all have existing gold, so if you have no gold then you aren't in the game and waiting could be a big mistake.
    I'd just buy now to get into the game. If it drops, buy more and average down.
     
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  3. openeyes

    openeyes Well-Known Member Silver Stacker

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    I wouldn’t be in a rush. If you have money to invest take your time. If you plan to buy little by little over time them just start and prices will average out.
    There are mixed views here about the current price. Some believe it will go way down to $700 per oz. Others talk of $10000 per oz in the next five years. Probably it will be somewhere in between. General consensus I think suggests some retrace we are seeing now but not substantially lower - maybe another 6-7%. Then further upward movement in the coming months and years.
    I am sure you have seen some of the many posts on the topic. Your money your call.
    I am personally in with 5% of my assets and intend to increase that in the coming years.
    Enjoy the ride. It’s certainly not straight up.
     
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  4. madaw1

    madaw1 Active Member

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    All depends-if the coin you are after is hard to buy and is available right now, don't wait -just buy now, regardless of gold price,because you can't get this stuff in the future.
     
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  5. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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  6. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Now. It wont drop much more with the way trump is devaluing the currency. Hes grabbing it by the pu$$y.
     
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  7. Ian Gillman

    Ian Gillman Active Member

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    Look at your timeline for when you plan to sell it. If it is any more than a couple of years out then go ahead and buy now and every month, there is no need to play the markets. If you plan to flip it and make a quick profit then you will have to buy on the dips and sell on the peaks.
     
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  8. SilverDJ

    SilverDJ Well-Known Member

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    A beginner shouldn't be buying coins that have a higher premium. If you want to get into gold (or silver), just buy low premium bars for starters, or of course unallocated/allocated gold you can easily resell if you decide this whole thing isn't for you.
    There are two reasons to buy coins:
    1) You like coins.
    2) You think they will appreciate in numismatic value, in which case you need the skill to understand that market.
     
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  9. Slimey

    Slimey Active Member

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    The time to buy gold, I have discovered, is nearly always 6 months before the time you actually have the funds to purchase it. Ironic isn’t it!
    Of course when prices aren’t moving and you are flush with cash and start buying, you can guarantee prices won’t budge for another decade.
     
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