Buy Gold or wait

[Dankanugget]

Is it bad to buy gold this weekend on the basis what could happen next week?

Next week has quite a lot of potential in it to destabilise many things worldwide so I’m asking and I know no one knows 100% but if it would be a good topic based on current event’s taking hold.

Dan

[Tn21]

no one can time the market, yes there maybe some pull back but if your a buyer for the long term you don't need to worry about timing you purchase as you can cost average over a period of time.

As I speak there is a 2019 1oz gold krug available for spot on the trade section. 

For me I would say pull the trigger whenever and where ever

[Dankanugget]

Thanks

[Midasfrog]

Normally the weekend is not a good time to purchase from main dealers or the RM , mid week Wednesday or Thursday normally sees the lowest dip in price if any and some good buying chances. 

If buying from the forum there can be some great deals to be had at any time of the week even when there is a spike in the market 👍 

[Dankanugget]

I can’t see the deals but I’m after some sovereigns full or half.

[papi1980]

The moment I saw what Central Banks did in March 2020, I realised that in the long term gold is a better preservation of wealth compared to currency. In the short term there will be people who will short paper gold, take advantage of loose regulation and manipulate the price, but in the long term they are just delaying the inevitable…

[Midasfrog]

14 minutes ago, Dankanugget said:

I can’t see the deals but I’m after some sovereigns full or half.

The sovereign deals can come up any time 👍 but you can also put a wanted add up when ever you like and you will get a good response from helpful members with sovereign offers 

[Darr3nG]

40 minutes ago, Dankanugget said:

I can’t see the deals but I’m after some sovereigns full or half.

You should definitely consider premium membership, as you will get immediate access to the best deals and the UK dealer Price Comparison tool. A few cheap deals from the forum buy and sell, will see your membership fee saved in no time!

[Gordy]

2 hours ago, Dankanugget said:

I can’t see the deals but I’m after some sovereigns full or half.

TBH without premium membership the best deals will be long gone before you even see them, its like online gaming where you are on 256mb and they are running 120gb ... you got no chance... its worth getting a membership fee, me hearty, ooaarrrghh!

[James32]

3 hours ago, Dankanugget said:

Is it bad to buy gold this weekend on the basis what could happen next week?

Next week has quite a lot of potential in it to destabilise many things worldwide so I’m asking and I know no one knows 100% but if it would be a good topic based on current event’s taking hold.

Dan

The best time to plant a tree was 20 years ago, the next best time is today 🤷‍♂️

Buy now and thank yourself in ten years, don't stare at spot price unless buying/selling or it will drive you insane. 

If you buy today and it drops on Monday ( who cares ) Buy again ( budget permitting of course) and so on and so forth.

As @Tn21 says , when viewed as a longterm plan then the price average will take care of itself. 

Only invest what your prepared to do without for a few years, otherwise you will panic and sell at a loss.

 

Edited February 13, 2022 by James32

[Gordy]

1 minute ago, James32 said:

The best time to plant a tree was 20 years ago, the next best time is today 🤷‍♂️

Buy now and thank yourself in ten years, don't stare at spot price unless buying/selling or it will drive you insane. 

If you buy today and it drops on Monday ( who cares ) Buy again ( budget permitting of course) and so on and so forth.

As @Tn21 says , when viewed as a longterm plan then the price average will take care of itself. 

Only invest what your prepared to do without for a few years, otherwise you will panic and sell at a loss.

 

You been on the Whiskey matey?, thats the most sensible thing you've said mate 😂

[CANV]

if IVAN Dosent turn his tanks on this weekend gold will be 40 quid cheaper an ounce by 9 am Monday ..   if you are buying a sovereign it makes zero difference    if you are in the market for a decent sized bar.  well thats when it get tricky 

[Dankanugget]

Lol thanks all 

[beacon]

Impossible to time the market, no one has a crystal ball. Just buy and forget for a few decades. 

[Thelonerangershorse]

I have a crystal ball, they sell them quite cheaply on ebay:

https://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=p2380057.m570.l1313&_nkw=crystal+ball&_sacat=0

Just avoid the cheap chinese ones, they're not very reliable and frequenty get the gold price wrong.

[Bigmarc]

On 13/02/2022 at 00:08, Gordy said:

its like online gaming where you are on 256mb and they are running 120gb ...

A what? And a who now?.....

 

 

 

[Gordy]

1 minute ago, Bigmarc said:

A what? And a who now?.....

 

 

 

I dont know... 😂 I cant even remember posting this, i may have or may have not had too much grape juice.... one of your 5 a-day you know!🤣

[Gordy]

5 minutes ago, Gordy said:

I dont know... 😂 I cant even remember posting this, i may have or may have not had too much grape juice.... one of your 5 a-day you know!🤣

ah, i think i was trying to say; if you dont get a membership then by the time they become visible they are gone, so its a bit like online gaming where you have a rubbish connection so by the time you see the enemy you are already deed!

[Bigmarc]

5 minutes ago, Gordy said:

ah, i think i was trying to say; if you dont get a membership then by the time they become visible they are gone, so its a bit like online gaming where you have a rubbish connection so by the time you see the enemy you are already deed!

I know, I was just playing up 😁

[Abyss]

Gold floor price was $1000, then moved up to $1150, $1450 and now the new floor price is $1750. I was hoping price could potentially retrace to $1700 but doubt that will now happen. Once price retest $1920 and manages to establish a new floor you already want to have secured your long time holding. It is impossible to predict price but having a good understanding of price action and viewing longer terms charts (weekly) allows you to stay calm during the short term spikes and sell off in the price action. Last leg up in price was from $1450 to $2080 and 50% retracement of this move is $1763.

If the question asking what is a good price to buy Gold with limited downside potential and plenty of upside potential then it would be $1763 (IMHO).

[BullionBuyer]

Great advice by @Tn21 if you are interested in precious metals for the long term. For me what matters is not what I pay but how much do I have. Short term fluctuations in price is just a distraction and we all know that PM prices  are trending up over the long term. 

[Bratnia]

1 hour ago, BullionBuyer said:

Great advice by @Tn21 if you are interested in precious metals for the long term. For me what matters is not what I pay but how much do I have. Short term fluctuations in price is just a distraction and we all know that PM prices  are trending up over the long term. 

Investment wise, blended with stocks and periodically rebalanced will tend to cost-average down the average cost per ounce of gold over time. In the UK once the average cost is down to £100/ounce or less then as one ounce Britannia coins have a legal tender £100 value you have the further fallback/floor that should the price of gold collapse/fail then you could still spend it in shops. For the reason that Britannia's have a £100 legal tender value compared to just £1 for Sovereigns I prefer Britannia's (approx 4 Sov's per ounce so £4 vs £100 legal tender value differences). On that stock/gold rebalancing (cost-averaging) basis, buying at any time is OK. Again from a investment perspective you might use a gold ETF to actually gain initial exposure for the liquidity/tighter-spreads that provides, then migrate that over to physical/coins bit by bit as/when opportunities arise (sell some of ETF holdings to buy physical such that your overall gold exposure remains the same).

[CaptCaveMan]

I started purchasing last April, spot was 1280.61 on the day of my first purchase, currently it's in the 1360's, other forum members will put these figures to shame from when they started...  It may go down or continue to increase, abet slowly but it's a long term wealth preservation/investment/diversification/savings plan.

For for me it's just an enjoyable hobby to both collect and stack with the odd trade along the way.  As long as I can afford it and nothing major impacts me beyond other savings & investments it's something the next generation will be gifted and to decide what to do with.

As to wait or buy, it's very much both a transactional and personal decision on what you can afford/like and what you can continue to 'invest'.  Also, once you start seeing it in grams and tOz's rather than just currency you tend to want to round it to the nearest tOz, 5, 10 etc.

Personally, I aim for small regular purchases either on a dip or if a deal pops up and I haven't already spent my pocket money, generally that means Sovereigns.

[Dankanugget]

Some good input thanks I’ll keep going I have my Britannia’s from last year and now I’m getting more sovereigns and half sovereigns which is going well. I have some silver but I don’t think I’ll add to that now.

[adamantio999]

A good time to buy gold is at anytime. Buy regularly what you can afford, so you don't care about ups and downs in the price over the long term.
I'm not very experienced compared to many members here, but I adopted a new attitude: not measuring my wealth in currency, but in weight. Set my stacking objectives in ounces and quarter ounces. According to estimates, there is less than an ounce of gold per person above ground, as of today, so every time I add a new ounce to my collection (most likely 4 quarter ounces) in my mind I am richer than someone else will ever be.
Now my stack is buried at the bottom of the ocean. Thankfully I survived that terrible boat accident.