Best Time to Buy Gold in 2020 – General Guide to Buy Gold
The most common question heard when people want to buy gold as an investment asset is when is the right time to buy gold. If you are intending to buy gold this year, then you may search on what is the best time to buy gold in 2020. It is best if you check the guide on this matter first to gain more than to lose.
1. Pay attention to the long-term trend
When it comes to gold, you must pay attention to how the trend will be in the long term. The prices will tend to increase in months or even years. The prices will indeed fluctuate. Sometimes, you may find gold prices dive deep in just one month by the time you have bought gold. This is common for gold and it will correct later on. The trend for the last decade has proven that the increases are more than the drop. So hopefully, this trend will continue so it is easier to predict the movement. Do not expect gold as a short term investment. It is better to hold your gold for about half of a year or longer before you give up.
2. Keep an eye on the price
When you ask about when is the best time to buy gold, it means that you may have realized that buying gold is about choosing a moment. In this era, it is easier as you can check on the price every time you want. To pick when is a matter of preference as well, some people choose to buy gold when the period is stable. Some others will buy when the price dips, and some buy gold when the period is strong. However, to buy gold bullion, it is better to buy it when you think the price is right for you.
3. Time to buy gold in a year
To answer what is the time in a year that will be best to buy gold, we need to take a look at history. During the last decades, gold will fluctuate in the first months of the year and will calm down in the summer and springtime for it to get high again in the last months of the year. From this trend, we can read how gold is best bought at the start of January, early in April, and from mid-June to the start of July. That is the best time to buy gold in 2020.
When looking at the data decades ago, though early months are better to buy. Historically, March is the month where the gold prices dip the most. So if you missed the opportunity to buy in January, March can be a better time to buy.
Watching how gold prices fluctuate through the years how the surges, manias, corrections, and monitoring it as frequently as possible will help you decide when is the best time to buy gold for your investment. One more advice when you plan to buy gold is that you need to buy it this year and not next year. This is because gold prices are set to increase despite the short time surge.