Is it a good time to buy gold?

littlebazza

I was thinking of buying some gold but I'm a complete newbie when it comes to this. I've looked at the charts and it looks as though it's at an all-time high, suggesting that it may not be. What do people here think?

MEM62

Depends on the purpose for holding the gold.  If you are buying it because you like shiny stuff, now is no better or worse than any other time.  

Albermarle

I was thinking of buying some gold

For what reason ?

Alistair31

Buy low, sell high. 

ColdIron

It's not at an all time high in Sterling terms (August 2020) but not far off and with the drop in GBP may go higher. As others have asked, why do you want to buy it? It's a decent store of wealth (not value) and can protect against rampant inflation (much higher than we have now, think Argentina) but pays no dividends

If you are just hoping that it goes up value that's pure speculation and it could go either way. At these prices it wouldn't be high on my list

littlebazza

I wanted it as part of my savings, along with the money I have in my bank.

Albermarle

You can buy the actual physical gold and keep it at home ( in a safe) and tell your insurers.

Or you can buy a gold ETF, a financial instrument that follows the price of gold ( cheaper and easier)

Type_45

littlebazza said:

I wanted it as part of my savings, along with the money I have in my bank.

Why not convert 10% of your savings to gold. Either Britannias/sovereigns, SGLN stock, or a bit of both.