Should I Buy Gold When It’s High Or Low?
Gold is again at the low end of what most Gold buyers hope is a trading range. So you might be asking “should I buy Gold now at these prices?” Or maybe you are a precious metals investor considering throwing in the towel?
We have no crystal ball and we NEVER make investment recommendations; but we bought some more Gold Buffalos the other day after the fall to the $1175 per ounce support level.
Yes, Gold has fallen a few dollars more.
But when asked if he was upset about IBM stock going down Warren Buffett answered that since he is going to be buying more IBM stock in the coming months (and maybe years) why shouldn’t he be HAPPY IBM stock is down in price so that he can buy MORE SHARES FOR HIS MONEY!
Long Term Gold Outlook
If you are a long term precious metals investor hoping to preserve your wealth through a financial storm (I know, we’ve been waiting and waiting…) and your goal is to accumulate more Gold over time, then why wouldn’t you want to buy more Gold at these low prices?
Sure, it might go lower.
Then again, it might not.
This is one reason that we really like a regular program of buying Gold, Silver, Platinum and Palladium that essentially amounts to dollar cost averaging like you would get with reinvesting dividends in a mutual fund. The MetalStream program from the Hard Assets Alliance is a FANTASTIC way to do this with real, tangible, physical, allocated (you get the idea) precious metals. Click here to learn more about MetalStream.
Since we try to take a long term wealth preservation viewpoint of buying and storing Gold (and the other precious metals) we are happy to buy more at lower prices. Sure, we aren’t thrilled that we are ‘in the red’ on other tranches bought at higher prices, but that’s something to overcome mentally and focus on the benefits of owning more Gold at lower prices.
Buy A Couple Gold Buffalos
Why do we buy Buffalos and not Eagles? Well, the Asians like 24k Gold and so do we. There is a reason that the US Mint started minting a 24k Gold coin and we think it’s because of the trend Asia is setting. They like their Gold pure, as evidenced by their buying large bars and not just re-casting them into kilo size but also refining them to an extra ‘9’ of fineness.
If you are looking for the cheapest place to buy a Gold Buffalo you might want to check JM Bullion which has given us great prices and great service over the last couple of years. Click here to check JM Bullion’s pricing, which includes FREE SHIPPING!
Do beware of having too much physical precious metals around the house though, and that’s again why we really like the Hard Assets Alliance. Not only do they have competitive pricing but you can have them store it at reasonable rates not only in the USA but also several insured vaults overseas including the insanely popular destination of Singapore (money and metals seem to be FLOCKING there currently).
HAA has a free precious metals investor kit you can get here.