Best time to sell gold?

mooneysaver

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold. Now that it looks like the stock markets are recovering, can anyone give advice on how to determine the best time to sell the gold I purchased?

EdGasketTheSecond

'most people on this forum' ?? A small minority I'd say.

Imho you should keep it until we are through the virus, through the deflation stage and into the inflation stage; then you will see gold reach new highs; I would think in about two years. If you want to play safe, then if gold rises this summer to say $1900 + per ounce, you could sell some in case it gets pulled back in the likely stockmarket crash thats coming this autumn. That's my view, others will say different, but gold is good right now in my opinion.

Prism

Well if you sold in march it looks like you were a bit late - you likely shouldn't have sold. Now stocks have almost fully recovered and in some cases are well above their February highs. From here in the short term gold or equities might go up or down. Why not hold a bit of both?

Sailtheworld

mooneysaver said:

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold. Now that it looks like the stock markets are recovering, can anyone give advice on how to determine the best time to sell the gold I purchased?

The best way to determine this is with the use of hindsight I'm afraid.

strawb_shortcake

mooneysaver said:

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold. Now that it looks like the stock markets are recovering, can anyone give advice on how to determine the best time to sell the gold I purchased?

Yet this is your only post...

Alistair31

mooneysaver said:

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold. Now that it looks like the stock markets are recovering, can anyone give advice on how to determine the best time to sell the gold I purchased?

Where is said advice?

george4064

Thursday afternoons are a good time to sell gold. 

Edit: in before DiggerUK

ColdIron

mooneysaver said:

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold.

I very much doubt that most people on this forum advised you to sell up in order to buy gold. Your only posts seem to involve you ticking others off

Why don't you sell your gold wherever you bought it?

Alistair31

ColdIron said:

mooneysaver said:

On the advice of most people on this forum I sold up the majority of my portfolio in March in order to purchase gold.

I very much doubt that most people on this forum advised you to sell up in order to buy gold. Your only posts seem to involve you ticking others off

Why don't you sell your gold wherever you bought it?

I think he is asking WHEN and not WHERE to sell. My crystal ball is out of steam for today but hopefully the invisible majority who advised in the first instance will be able to offer advice again now.

Sailtheworld

My gut feel is a fortnight ago might have been a good time to sell. A Coronavirus vaccine would really put a dent in the gold price but it looks as though the virus is clearing off faster than a vaccine can be developed. Another couple of weeks and more people will be dying slipping over getting out the bath than dying of Covid-19.

Linton

Like Cold Iron I do not believe that most people on this forum advised you to switch to gold.  Perhaps the more vocal ones did.  However I hope it is a valuable lesson learnt that no-one can foretell the future with any useful degree of accuracy.  That applies to current conditions as much is it applied in March.  So if you want to switch back into your more normal investments I suggest you do it now rather than dither and worry whilst the world moves on.  If you make what should be a relatively small profit or loss it doesnt really matter.