Is now a good time for buying gold?

TreasureHunter

TreasureHunter

Well-Known Member
Hi, is this time (right now, early June) a good time for buying gold at around 1,170 $/oz?

Would buyers have to wait longer for a better price or it this the year's best opportunity?

By looking at the price chart, I think gold in USD might be about to take a bigger dip (crash). I do not know for sure.
On the EUR graph, it looks more promising, but the three humps might also suggest it's struggling, so it might dip.

:rolleyes:
 
Ultimately the commercial traders will dictate where the price goes, 1130 is a key support level it could bounce hard off if that. If that breaks it could mean down town to 1030 which is another important price level
 
be it 1170 or 1070 its only 100 buck difference, it we are one ouncer :) nothing too worry or to loose sleep to.
 
Yes... wait... no.... wait... maybe!

Forget graphs. Markets haven't been free for a long time, they are admittedly managed. Buy gold for when you can't buy gold... if that makes sense then good. If it doesn't buy stocks.
 
Anytime is a good time to buy gold!

I believe you should buy gold (e.g. jewelry) whenever you have some spare cash.
 
better time as any to buy .... but, not in jewelry form wtf... Saturday night, altima is drunk posting again.
 
It's certainly a better time than in 2012 when people said it was a good time to buy as a last chance under $2000.
 
^
Yes, Pirocco, indeed.
It's closer to production costs now.

By the way, where were 2014/2015 gold production costs?
 
ego2spare said:
better time as any to buy .... but, not in jewelry form wtf... Saturday night, altima is drunk posting again.
Click to expand...

I'm dead serious. Gotta get me some of that bling bling! :P

Only close to spot though. Heh
 
Gold might have formed a mid-term bottom around 1,160 USD level. However, I always believe gold/silver ratio is absurdly high; still in the 70's; considering the production ratio is only 15? If you really want to buy some gold, next week might see 1,160 level; provided that if you could get some gold at melt price ... then go for it.

I just have the bad feeling that we might see 1,100 by the year end; then, you know :P
 
leon1998 said:
Gold might have formed a mid-term bottom around 1,160 USD level. However, I always believe gold/silver ratio is absurdly high; still in the 70's; considering the production ratio is only 15? If you really want to buy some gold, next week might see 1,160 level; provided that if you could get some gold at melt price ... then go for it.

I just have the bad feeling that we might see 1,100 by the year end; then, you know :P
Click to expand...

Then what? Do tell !
When's the next time I can buy gold at $1,000?!
 
Its almost impossible to buy at the exact bottom, so I think its wise to keep picking up what you can afford.
The current XAU chart is a little contradictory, but the pattern on XAG looks a little more promising. However we need a few more daily bars to see if the bottom is really in. If those supports break there is more downside possible
 
TreasureHunter said:
Hi, is this time (right now, early June) a good time for buying gold at around 1,170 $/oz?

Would buyers have to wait longer for a better price or it this the year's best opportunity?

By looking at the price chart, I think gold in USD might be about to take a bigger dip (crash). I do not know for sure.
On the EUR graph, it looks more promising, but the three humps might also suggest it's struggling, so it might dip.

:rolleyes:
Click to expand...
FUTURE_GC1_sheet.png

Source: http://charts.equityclock.com/seasonal_charts/futures/FUTURE_GC1_sheet.png
"Gold Futures (GC) Seasonal"

image_thumb.png

Source:http://www.equityclock.com/charts/gold-futures-gc-seasonal-chart/

"The above chart represents the seasonality for Gold Futures (GC) Continuous Contract for the past 20 years."
 
Best time to buy
Jan low
April low
june low
Aug/Sept lows

Worst times

Feb
May
July
October
December

Chart it in your own currency though........this has always paid off for me.

There are always means to buy at less than spot if you look for them.
 
In theory you would do better in October in dollars for example. However in Euros October last was a good time to buy.

Do your own homework in your currency.

Gold is very seasonal

1)Chinese new year
2)Indian wedding season
3)Christmas
4)Valentines day
 
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