Is now a good time to buy gold?

[Upsidedown]

Will the prices dip further? Predictions for the short, medium and long term, also include why you think so.

Discuss

Edited July 13, 2023 by Upsidedown

[JamesH]

Don’t think there’s ever a ‘bad’ time to buy gold, maybe sun-optimal but not bad. Short term I reckon in GBP terms it remains relatively stable simply due to GBP’s strength relative to the Dollar. Mid term, with the Fed still likely to raise rates despite lower than expected Us inflation, we could see a dip but at the same time, that could strengthen the Dollar against the Pound and continue a period of stability. Long term, it’s going up. I mean, none of us would be here if we believed differently, right? Anyhow, I’m not as savvy as many on here so these are just the thoughts of a simple man

[Cassius]

I ll tell you things from a diffrent perspective. If all of us in here bought a couple of months ago with 52£/1gr, like 390 or 400 for 1 Sov and now you get them for 370 (50£/gr)  from Atkinson if you buy in a bundle of 4, is it a good time to buy? Hell yes. 

On the other hand there s a lot of potential for going even further down as things are not ok in US, UK, EU and no good signs are coming from nowhere. That beeing sad  you could say, I ll stsy on a bench just a litle bit moore...1 month or so...But than , guess what...it will go back to 52£ a gram. So...if you bought a couple of months before, you need to buy now as well...At least it will bring your average down per gram. 

But who knows...who knows...

[Bratnia]

4 hours ago, Upsidedown said:

is Now a good time to Buy Some gold?

Will the prices dip further? Predictions for the short, medium and long term, also include why you think so.

In the four hours since asking the price has declined in GBP terms, so no "now" (then) wasn't a good time to buy some gold, at least for the short term  Medium term, who knows, long term, yes, but not in isolation. Blend it with stocks and periodically rebalance the two back to 50/50 or whatever weightings.

[Thelonerangershorse]

BOE meets 3/8 and may well push up interest rates again.

On the other hand, 3 weeks is a long time in this game.

 

 

And can you please edit the title to have a capital I and a lower case n and fix the BS

 

Edited July 13, 2023 by Thelonerangershorse

[tpcob303]

Yes, as its relatively cheap even if you think around $2k or £1600 is expensive it's actually really cheap. 

Plus I feel gold price usd is on the way up, gold per oz in £'s I expect to follow on upwards after gold in dollars makes its move. 

Here was the gold price as per yesterday. To me even though the price had been going down the past few weeks, it's Outlook in terms of trajectory is upwards.

 

 

[Upsidedown]

I know some people think it will dip as low as 1450 as soon as next month

I don't think we will see big moves this year, but when rates are cut it could go crazy, the potential is there.

I heard someone talking about rate cuts and gold and apparently historically for every 1% cut, gold goes up about 19%? Seems extreme, anyone have the actual numbers?

[Thelonerangershorse]

Given that gold's still going down and silver's going up iu would be interesting to see a graph of GSR if someone less lazy than me can find one.

[Dobber]

https://www.bullionbypost.co.uk/price-ratio/gold-silver-ratio-chart/

Man you must be lazy, took all of 5 seconds to find 🤗

Edited July 14, 2023 by Dobber

[Agaupl]

I’d be very happy to bet gold is going up … before year end in USD. Its strength has been astonishing this last couple months.
But in other currencies it’s harder to gauge. DXY is dropping after the US CPI announcement but the fed is still expected to hike rates on the 26th July but then hold. I only see gains in USD Gold. Any BRICs related gains I see as a slow burner although there maybe a couple of good days as the focus is on gold. 
UK seems to be lagging so in GPB I’d say there’s a fair chance of gold dropping slightly due to the £s strength with a rebound late ‘23 or early ‘24 when BOE backs off. I checked today and 1 year NS&I bonds are paying 5% still with a rate inversion over 3y+.
In my AUD the CBA paused last meeting and I only see gold rising in price as the pacific peso drops and drops. 
 

however this is not financial advice as I have no idea what I’m talking about. if it drops to 1850 I’ll be a happy man tbh🤣

So yes but gold. Sometimes buy less, sometimes buy more. But it’s never a bad time to buy 

Edited July 15, 2023 by Agaupl

[MetalMandible]

Yes

[n1k0s]

Keep stacking. One sovereign a month. It is an insurance policy. Sometimes you need an insurance in case your house goes on fire. And you cant buy it afterwards. 

[Midasfrog]

Gold out performs everything so never a bad time to buy 😍

[Oddjob]

1 hour ago, Midasfrog said:

Gold out performs everything so never a bad time to buy 😍

If you are a long term holder...then most definitely YES. source: https://bullionnow.com.au/charts/

 

 

[Oddjob]

On 13/07/2023 at 23:47, Upsidedown said:

Will the prices dip further? Predictions for the short, medium and long term, also include why you think so.

Discuss

Note: This is not financial advice......just getting that out of the way. 😀

Some the key indicators show a upwards movement.

 

[Oddjob]

[Bratnia]

Dow/gold ratio stochastic to define year start stock/precious metals weightings, limited to 25..75 lower/upper as per Ben Graham's advocacy. Precious metals gold/silver ratio stochastic to define how much of the rest (precious metals) should be gold/silver ... and the start of 2023 was showing relatively little gold, mostly stocks and silver 

Year start 2023 54% stock, 42% silver, 4% gold

Had you followed that since 1932 then total returns compared to 100% stock, but achieved that with less volatility (risk). Averaged 63% stock, 20% silver 17% gold.

Just one "taste" of possible relative valuations, to be taken with a pinch of salt. But maybe if accumulating it might be better to be adding silver rather than gold.