Price of Gold

Sarah920

So, the price of gold is currently in free fall. Can anyone recommend when would be the best time to buy a whole load of it? Today? Tomorrow? A month?

Also, anyone know of a good gold price tracker that will email me every day with the price?


Thanks!

hallmark

It's best to buy at the bottom & sell at the top.

Sarah920

hallmark wrote: »

It's best to buy at the bottom & sell at the top.

Is there a rough number that marks a dip? I only starting tracking gold closely recently, so not too sure on the average variations atm.

atush

Sorry, if anyone actually knew what you ask, they'd be using it to make money and wouldn't be telling you ;-)

crittertog

Best bet would be to make numerous smaller purchases over a period of time, thus averaging out any fluctuations in value (volatility).

I guess you want a graph like this: http://www.moneyweek.com/news-and-charts/market-data/gold ?

Jegersmart

Sarah920 wrote: »

Is there a rough number that marks a dip? I only starting tracking gold closely recently, so not too sure on the average variations atm.

Take a look at the charts and form your own opinion. No one knows what the future will bring, I am not a buyer of gold above $1k per ounce personally although others I am sure will have a very different view. with the current volatility across all markets, the price action is quite bearish in my view.

IMHO, DYOR

Jegersmart

Sarah920 wrote: »

So, the price of gold is currently in free fall. Can anyone recommend when would be the best time to buy a whole load of it? Today? Tomorrow? A month?

Also, anyone know of a good gold price tracker that will email me every day with the price?


Thanks!

I forgot to ask what your goal is - speculating? Hoarding gold and gambling on it being the "real currency" in decades to come?

Sarah920

Jegersmart wrote: »

I forgot to ask what your goal is - speculating? Hoarding gold and gambling on it being the "real currency" in decades to come?

I'm looking to diversify my portfolio. I've got the majority of my money in a high-interest ISA (though "high" is a bit !!!! compared to the heady days of my 6.5% Icesave ISA... :P) but in the event of a massive recession and high inflation, runs on bank, introduction of global fascist government, etc., always a good idea to have items of physical value kicking around that you pick up and take away from hordes of pitch-fork wielding rioters.

Jegersmart wrote: »

I am not a buyer of gold above $1k per ounce personally.

That's all I was after mate, I'm doing my own research by asking people here what they think. I respect MSE poster opinions a great deal, they usually know what they're talking about and I can get a better understanding of investor opinion by posting here than I would reading gold-selling websites that want me to buy gold.

Jegersmart

Sarah920 wrote: »

I'm looking to diversify my portfolio. I've got the majority of my money in a high-interest ISA (though "high" is a bit !!!! compared to the heady days of my 6.5% Icesave ISA... :P) but in the event of a massive recession and high inflation, runs on bank, introduction of global fascist government, etc., always a good idea to have items of physical value kicking around that you pick up and take away from hordes of pitch-fork wielding rioters.



That's all I was after mate, I'm doing my own research by asking people here what they think. I respect MSE poster opinions a great deal, they usually know what they're talking about and I can get a better understanding of investor opinion by posting here than I would reading gold-selling websites that want me to buy gold.

Diversity is good, but gold is a high risk instrument. I should probably clarify that I am not personally convinced that gold will have any value in the long term after the monetary system is gone - so my interest is purely speculative - but if you believe gold will have worth in a very different future then I guess in some respects it doesn't matter so much when you buy as long as you hoard enough to get by in the future - assuming you can judge how any future system will work and what the currency gold will be used for. Personally, as I can't eat or drink gold or construct anything useful out of it I won't be bothering too much...:)

IMHO, DYOR

tdowson

This blogger comments on many markets and investments including gold. His analysis is very measured and often spot on. His last analysis of gold was a few days ago before the recent fall. He reviews the main stock markets weekly, and gold every few weeks. As far as I can tell he has no vested interests and doesn't push gold or any other specific investment, so if you're looking for opinions his blog may be worth book marking:
http://investmentsfordummieslikeme.blogspot.com/2011/09/gold-and-silver-chart-patterns-update.html

Sarah920

Jegersmart wrote: »

Diversity is good, but gold is a high risk instrument. I should probably clarify that I am not personally convinced that gold will have any value in the long term after the monetary system is gone - so my interest is purely speculative - but if you believe gold will have worth in a very different future then I guess in some respects it doesn't matter so much when you buy as long as you hoard enough to get by in the future - assuming you can judge how any future system will work and what the currency gold will be used for. Personally, as I can't eat or drink gold or construct anything useful out of it I won't be bothering too much...:)

IMHO, DYOR

I've got a three month food supply (taking advantage of food price drops before they get jacked up again) and an intention to buy silver as well, so that's covered. But gold exists as a handy and portable item of value before the monetary system was invented, I imagine it will continue to be so, partly precisely because it is so inert and not of that much use other than wearing.

I was of the same opinion regarding buying as well, but a whole bunch of people berated me in a previous thread for wanting to buy gold in May because they said it would take 25 years to see a return because the price was so high. Now it's dropping, I figured now is a good time to buy gold for both hoarding and if you might want to sell it in a few years rather than pass it to your grandchildren.

I like to try to invest in order to satisfy my paranoia about the end of the world and make a sensible investment should capitalism manage to not totally destroy itself.