Waiting for Christmas or?

[austack]

So the price of gold is kind of low right now, perfect time to buy lots of sovereigns but I have heard people save money for Christmas as the price of gold gets low then too, is this true and should I save from now until Christmas and buy x10 sovs or so? what do you guys do, a coin a month or save for certain months?

[darrol]

1 hour ago, austack said:

So the price of gold is kind of low right now, perfect time to buy lots of sovereigns but I have heard people save money for Christmas as the price of gold gets low then too, is this true and should I save from now until Christmas and buy x10 sovs or so? what do you guys do, a coin a month or save for certain months?

Well I am new to buying physical  gold – bullion -   although I do trade on the markets   , My mind is telling me gold is going to go lower so I am holding off  buying ,  Also remember people could have an interest in you buying gold now if they think its going to drop and they want to sell,    

Another way to look at this is  even if you did buy some gold now and it did drop what are the chance of the gold going back up over time or even over  the price you paid for it  ,   

[Pete]

The charts over the past 12 months are like a roller coaster or the back of Nessie the Loch Ness monster - in mathematical terms a "sine wave" no less.
There is a buying dip right now so waiting for Christmas might be a mistake - however there are no guarantees that the price will not drop further.
I think the markets are getting set for a UK interest rate rise which has the opposite effect on PMs but if North Korea detonates another nuke or fires a longer range missile everything changes in a flash.
Volatility is the word to remember and trying to predict the markets is impossible.
You might get lucky one day but as soon as your back is turned something will bite you in the ass.
If you have the cash burning a hole in your pocket, then if it was me, I would buy some now.

You may find buying sovereigns after gold spot has dropped, as it just has, becomes tricky, or premiums rise from 3% to 5% ( or more with some sellers ), as there will be many other buyers cleaning up whilst at the same time there will be fewer sellers, preferring to hold for the next rise, so they become harder to find at a decent price.

[HawkHybrid]

I would buy some that are on special offer prices now

but save some currency to be able to buy some at

christmas as well. spreading your risk over time is a

good idea when you are unsure.

 

HH

[KevinG]

I'm broke right now so I'm saving a bit to buy a couple Sovs for Christmas or new year lmao.