Should I buy right now or wait till later this year?

[AndyS]

For me it is more important to buy regularly rather than try and time dips and peaks. If you buy a sov or a 1/10 or 1/4 oz a month and pick a day to do it, it takes all the stress out of the purchase ...

As others have said, pick something with a low premium

[Blehhhh]

6 minutes ago, AndyS said:

For me it is more important to buy regularly rather than try and time dips and peaks. If you buy a sov or a 1/10 or 1/4 oz a month and pick a day to do it, it takes all the stress out of the purchase ...

As others have said, pick something with a low premium

You don't time a dip. If there's a dip you buy...

[AndyS]

4 minutes ago, Blehhhh said:

You don't time a dip. If there's a dip you buy...

How do I identify a dip? What % down from a ‘high’ is a dip when people would be comfortable buying? And how do you know it is a ‘high’ in the first place?

How stressful is that!

on approx the 10th of each month I buy a coin - usually one that I think looks interesting and a week or so later it arrives in the post ...

[HawkHybrid]

13 minutes ago, AndyS said:

How do I identify a dip?

 

a dip is when you are confident that what you are about to buy will

gain in value when you come to sell it. experience and knowledge

is used to tune your judgement.

 

HH

[KDave]

51 minutes ago, Blehhhh said:

You don't time a dip. If there's a dip you buy...

There is merit to the cost average approach, with correct mechanisms and discipline it takes the emotion out of it and prevents you going all in or selling up at the wrong time. I would say at least part of your investing should be automatic in this way. It is made easy with shares for example with monthly buying options on certain platforms.

To the OP question whether to buy now or wait, one thing you can do if you think its going higher and need to add, is buy some and hold some cash to see what happens, this way you hedge your bets, if it falls you can buy more at the lower price and average down, but if it rises then you don't miss out entirely on the previously lower price. If gold goes higher later this year, say to the $2000 that is being touted, you can use the remaining cash to find something else worth buying that will still be cheap, say oil or telecoms stocks perhaps who knows what will be cheap, but there is always an opportunity somewhere.

[sovereignsteve]

I think it's certain that gold will be higher at some point this year than it is today. I also think it will be lower as well. So buy now or wait until it's lower, you takes your chances.

[Blehhhh]

36 minutes ago, KDave said:

There is merit to the cost average approach, with correct mechanisms and discipline it takes the emotion out of it and prevents you going all in or selling up at the wrong time. I would say at least part of your investing should be automatic in this way. It is made easy with shares for example with monthly buying options on certain platforms.

I wouldn't dispute this.

[Oldun]

I would go for a more sensible couple of sovereigns and leave some money available if the price drops rather than go swinging in with a full britannia 1 oz. If the price rises, you buy 1 sovereign next time. If the price drops, buy your planned 2 etc etc....set aside a set amount each month and go for fractional in my opinion. It is easier to liquidate in small amounts if you need to, without losing your exposure.

[StackinJack]

I did buy a fair amount not long ago. It can go either way, maybe there will be high inflation, so in that case have some wealth preservation in gold. And maybe if the price will drop in a few months, I will buy more. My goal is not to flip or make money out of my purchases, just for my old days. And for now I will stop buying till the price comes down a bit.

[HGr]

Buy now AND later! 

[5huggy]

POUND/DOLLAR cost average is the right way IMHO! 👍

[FlorinCollector]

Buy low sell high.

If you are just starting at all time highs I think it could be a big risk

 

[Metallurgic]

Personally I would wait a bit longer! It might take a few months but the price will settle. if its just for a coin or two(sovereigns marks,coronas not oz coins) buy it if its going to make you feel better. Another thing is to look into gold numismatics as the gap between numinmatics and bullion coins is now smaller

[Blehhhh]

1 minute ago, Metallurgic said:

Personally I would wait a bit longer! It might take a few months but the price will settle. if its just for a coin or two(sovereigns marks,coronas not oz coins) buy it if its going to make you feel better. Another thing is to look into gold numismatics as the gap between numinmatics and bullion coins is now smaller

Ive been thinking about getting some numinmatics coins, but the problem I have it I have no idea what a good price is when I view the coin.

[Metallurgic]

 

22 minutes ago, Blehhhh said:

Ive been thinking about getting some numinmatics coins, but the problem I have it I have no idea what a good price is when I view the coin.

Well I am not very savvy either to be honest...read a few things looked for  coins I liked.

 

Few weeks ago I have purchased some 1/2 1,2,3 and 5 silver marks and 10 & 20 gold marks in au condition of wilhelm II of prussia.

I have noticed that the prices for the gold coins in particular are pretty close to what I have paid .

 

Off topic but these days I am looking into ancient alexander the great and attica owl coins whose price is unaffected by the the whole situation

[Blehhhh]

16 minutes ago, Metallurgic said:

 

Off topic but these days I am looking into ancient alexander the great and attica owl coins whose price is unaffected by the the whole situation

Thanks , any tips on best websites to use.

[Metallurgic]

9 hours ago, Blehhhh said:

Thanks , any tips on best websites to use.

Send pm

[KDave]

 

[Blehhhh]

4 hours ago, KDave said:

 

Interesting watch, but at the same time, I can spot a scam artist when I see one. 

This guy may not even know he is one.

[Blehhhh]

Roy, Im basically saying I think hes just doing a lot of rambling to get people to sign up to his expert advice.

I personally dont believe anyone has knows whats going to happen, regardless of the fancy analysis. Yes, its an interesting watch, but in my opinion not worth paying for.

I am always so skeptical of these "experts". If they know so much why dont they just make a fortune trading. 

[Roy]

Do you think you know more than they do?

[Blehhhh]

1 minute ago, Roy said:

Do you think you know more than they do?

More about what?

[Roy]

Gold and Silver

[Blehhhh]

Just now, Roy said:

Gold and Silver

Probably not, but Id need to chat to him to decide. Hard to tell from a recorded youtube video. 

I know less then most people on this forum or other people who I can chat to for free.

Once he starts selling his "knowledge", I call BS. Thats just me, each to their own.

[Roy]

His commentary was free, wasn't it?