Should i buy gold now or wait to see if it goes down in price??

Question

Should i buy gold now or wait to see if it goes down in price??

Answer 1

Gold has tripled in price in the last couple of years.  Why would you want to buy it now?  The general idea is to get into investments when they are cheap and sell them when they are high, not buy them when they are at historic highs and try to sell them at higher historic highs.  People asked this same question about the dot.com stocks in 1999.  People who though is was a good idea lost big.  It's like a see-saw.  If you research you will see that when the stock market was blasting off during the late 90's, gold was around $225, oil was at $15.  Now the market is being punished and gold and oil are blasting off. Gold is near $1000 and oil is at $140.  

The cycle will repeat itself.

Answer 2

If I could predict when to buy gold I would be the richest person in America. Usually you should buy it when the economy is doing poorly, since gold holds its value when stocks may decline sharply. I should correct myself, buy it before the economy does poorly. I can't recommend buying gold now, it may be too late.

Answer 3

GOLD Price has reached its second target at the upper pitchfork lone and jumped over it setting up new highs at 918.12.

MACD is showing consolidation of the market with the possible target level at the support at 906.13. If price settles below the upper pitchfork line it may go further down to test the median line at about 894.61.

Price is far above MA line, so it’s possible to say that up trend is strong for now. Therefore it is not the correct time to buy stock now. I think 880 would be a good purchase price.

Movement:

- Short-term sideway (possible down), midterm up

Resistance:

- 918.12

Support:

- 909.48

- 906.13

- 894.61