About the current price of gold. Time to buy or not?

[SpainGold]

Hello everyone,in this topic i would like to discuss about the current price of gold. I'm currently planning in buying some of it but i have seen that lately is getting higher in price,i remember buying a Sovereign just around the same month in the last year and it was about 258€ and now is around 300+ €. I'm not sure if i should wait for the price to drop or if i should buy right now considering it might go even higher. As we have seen many countries are buying gold right now such as China,Russia,Poland and so on and that could be the thing that is getting these prices right now.

What do you think guys,should i buy right now or wait a couple of months hoping it drops a bit? Really want to know everyone's opinion about this but mostly from veterans that have been buying precious metals for a long time. Thanks for stoping by and have a nice day. ⚜️

[HawkHybrid]

if you already have enough gold for an emergency

fund then I would wait some weeks/months for

lower prices. if not then maybe consider topping up

enough to get to that point.

personal positioning is more important than

marginal gains/losses.

 

HH

[goldmember44]

I think now is a good time to buy, chances are high that the price is only going to increase steadily in the coming months and years.

I will add that this is my personal opinion only, and not financial advice. Do your own research.

[campbellgs]

Just buy if you can 

[Pete]

If you could predict a steady rise then buy now but if you predict a fall then wait.
Problem is if you wait and prices go up then you will kick yourself.
On the other hand if you buy and prices fall you will kick yourself.
Simple !!

[Midasfrog]

Even if the spot price of gold does drop back you can be sure that the premiums and any gains on coins such as the Queens Beasts will be held high with very little drop back.

So best to buy today and build your stack on any future premium and spot increases

[universalcurrency]

It could be argued that the price of gold is irrelevant in that gold is the rough barometer that other currencies are measured by.  Thus excluding possible price suppression arguments a high price outside of  a normal trading range would indicate inflation of one of more currencies and conversely deflation.  GoldMoney and other pm backed digital currencies work on exactly this principle.

So if you keep buying over time (cost averaging) you cant go to wrong.  Spot is always changing but no one can time the market 100% on buying at the lowest low to the highest high.

What would be interesting to see is if gold wasn't priced in dollars, instead freefloated on different exchanges in that countries currency, would you see a difference in value when currency exchange is accounted for....

[silenceissilver]

I have mentioned this before - a German analyst, Markus Krall, who was part of designing the stress tests for banks after the last financial crisis, thinks the Euro is most likely to start to collapse at the last quarter of 2020 (but doesn't make a concrete prediction that it has to start at this time - it's just the most likely time with how things currently are and his knowledge).

Then there is this:

Trump Fed pick wants to revive the gold standard. Here's what that means

https://www.cbsnews.com/news/trumps-fed-pick-judy-shelton-gold-standard-explained/

That doesn't mean it can't go down before it goes further up but I wouldn't speculate on that. Let's assume it goes down after you have bought some - so what, if it goes up again relatively fast, who cares. Short term trends are good for speculation. If you want to preserve your wealth and hope for a bit of a long term profit, I think it's a good time to buy now.

[Tn21]

If it's only a couple.of months your willing to wait I say buy now and forget about it. Then buy again when you can, then buy again when you can. 

You get where this is going ?

[richatthecroft]

Who knows- none of us have a crystal ball.

I guess the sensible answer is to ensure diversification, investing in- Property, Land, Stocks, Bonds, Investment funds, tax efficient savings, SIPPs, blah, blah, blah....

Or be completely reckless like me and restrict and narrow your investments to buying  Gold & Silver coins regularly...

Good luck with your investments. 

[Abyss]

I do like Jim Rogers and advice given is sensible IMHO. Interview Ktico on the 10th July 2019.

 

[HawkHybrid]

'if gold goes up and I never buy another ounce

it's ok, I'll be happy' (jim rogers)

 

HH

[Nick1368]

No one knows what will happen to the price of gold tomorrow.

i think it depends if you’re just starting to buy gold or you already have some gold and want to add to your stack.

I started buying gold last year in July, at the time spot price was around £950 but to me spot price didn’t matter at all because I had made up my mind that I wanted to buy gold and it was just question of what to buy.

Right now I’m not buying any gold and waiting to see what will happen in the next two months, I personally think if the price doesn’t drop in the next two months then it probably won’t drop for a long time in which case I’ll start buying again.

so I think if you’re just starting to buy gold you should go for it regardless of the price but if you already have some gold then wait a few weeks to see what happens.

Go for the latest releases of Queen’s Beats ( Yale or falcon )because the premium on Queen’s Beast will protect you against any drops in spot price.

again that’s just my opinion, do your own research, but buy queen’s beast 😜

[KDave]

I normally buy gold when the royal mint tells me to buy. When they release a queens beast they say jump and I say - "how high? I'm not paying that!"

[goldmember44]

11 minutes ago, KDave said:

I normally buy gold when the royal mint tells me to buy. When they release a queens beast they say jump and I say - "how high? I'm not paying that!"

Slightly offtopic, but any idea when the next Queen's Beast proofs come out? Probably early next year I reckon? Because until now we've had two per year... and this year we already had two -- the falcon and the yale. The White Lion of Mortimer is next I think.

[KDave]

Lion in September I think! Proof should be the same time. It's just the Griffin that didn't so far. 

[goldmember44]

12 minutes ago, KDave said:

Lion in September I think! Proof should be the same time. It's just the Griffin that didn't so far. 

Oh wow... time to save up then already! 

[Goldfever]

I'm playing the loooong game ... I buy as the urge takes me 

[KDave]

March and September are the release months I think, or have been for the last two I think? Bull was March 2018, Falcon was September 2018, Yale March 2019, ect. I think that's right. 

[goldmember44]

Another big question on my mind, is whether the Royal Mint is going to adjust their gold proof prices due to the gold spot price increase lately... surely they will eventually, but when? Currently the 1/4 gold is £480, and the proof sovereign £450. The BU matt £365 (which is getting closer and closer to bullion price...). 2020 sovereign will likely be more than £450, perhaps £500?

[Abyss]

6 hours ago, HawkHybrid said:

'if gold goes up and I never buy another ounce

it's ok, I'll be happy' (jim rogers)

Jim Rogers acquired a lot of gold at much lower prices over last several decades so price never retraces from current levels and continues to accelerate higher he already position and hedge. One of the reason why Jim Rogers waiting for lower Gold prices because a recession is coming (uncertainty of when but it is coming) and will result in a stock markets followed by housing markets falling in price which are deflationary and should also have an impact on mining shares and the price of Gold to go lower. He is simply waiting for this part of the cycle before converting the remainder of his paper money into Gold. The strategy makes sense to me but timing such moves very hard to achieve.

[MancunianStacker]

 

[HawkHybrid]

just read the title '$87k gold', I need what

they're smoking. 

 

HH

[Greg]

Just buy what you can when you can

[MancunianStacker]

1 hour ago, HawkHybrid said:

just read the title '$87k gold', I need what

they're smoking. 

 

HH

I’d take it. I bet the people of Venezuala would have too (had they had any gold before it went hyper). Nobody thinks it could happen to their country.