What do you see gold doing over the next several weeks? Buy now, or wait?

[youngbuck]

I'm wanting the buy an ounce of gold to diversify the ~200 ounces of silver I got. It'll be my first gold purchase, and I'm wanting to make it within the next 3-4 weeks.

Is there anything going on right now in the markets that indicate a price drop over the next several weeks? Just today (at the time of this post), gold has dropped nearly $30. Any indicators it will continue to fall, or should I just pull the trigger now?

[Black Flag]

I'm wanting the buy an ounce of gold to diversify the ~200 ounces of silver I got. It'll be my first gold purchase, and I'm wanting to make it within the next 3-4 weeks.

Is there anything going on right now in the markets that indicate a price drop over the next several weeks? Just today (at the time of this post), gold has dropped nearly $30. Any indicators it will continue to fall, or should I just pull the trigger now?

Buy when you are able.

Jim Rogers says "I am the worse guy to pick a high or a low in any market. I suck at it."

If HE can't do it, YOU can't do it.

You buy because the fundamentals say "Buy"
You sell because the fundamentals say "Sell"

What the price of your good happens to be at that time is irrelevant.

The fundamentals for gold says "Buy"

[Zippyjuan]

Nobody can predict what anything like gold may do in the short term or predict when it will move higher or lower. The important thing is do you think it will go up in the future by the time you think you may want/ need to sell it? If this is the case, don't worry about what it may do in the next few weeks. If you aren't sure what it may do by the time you sell or think it may go lower, then I would say don't buy. The only way you can know for certain if a particlar time was a good time to buy is when it is in the past- and by then it is too late to get in at that price.

[Seraphim]

Gold at this price point is NOT very risky, but I can see it falling a bit further in the short term.

This year is likely to be rough for PM's...Election cycle...central banks are doing their best to pump equities, credit markets and put a lid on PM's.

To be honest, a "buy when you can" mentality for this year is solid. This year is a definitive accumulation year.

NEXT YEAR will likely be the real pop off for PM's.

My word is not gospel, of course, but I'm doing my best to buy in all year and then watch the fireworks come Nov 2012 and after.

[youngbuck]

I am well aware of the concept of buying based on fundamentals. That's why I'm buying gold in the first place. But, like Seraphim mentions, there are some things that may depress the price of gold, such as the elections, etc.

Maybe I'll have to be more flexible in my time period: I'll set the cash aside and buy only if it drops below, say, $1600. I'm buying because I see some serious inflation problems in the next 5 years, and I think I'll be able to make at least a couple thousand profit. And if not, I'll just keep it as savings.

[Seraphim]

It may be wise just to buy it...

http://www.zerohedge.com/news/japans...e-worse-greece

I am well aware of the concept of buying based on fundamentals. That's why I'm buying gold in the first place. But, like Seraphim mentions, there are some things that may depress the price of gold, such as the elections, etc.

Maybe I'll have to be more flexible in my time period: I'll set the cash aside and buy only if it drops below, say, $1600. I'm buying because I see some serious inflation problems in the next 5 years, and I think I'll be able to make at least a couple thousand profit. And if not, I'll just keep it as savings.

[Black Flag]

I am well aware of the concept of buying based on fundamentals. That's why I'm buying gold in the first place. But, like Seraphim mentions, there are some things that may depress the price of gold, such as the elections, etc.

Maybe I'll have to be more flexible in my time period: I'll set the cash aside and buy only if it drops below, say, $1600. I'm buying because I see some serious inflation problems in the next 5 years, and I think I'll be able to make at least a couple thousand profit. And if not, I'll just keep it as savings.

It will not go below 1650 - and it will not -for long- hang around this 1700 price point for long....

[Zippyjuan]

What if it never goes down to $1600 and instead goes to over $2000? OR what if it went to $1600- and kept going down?

[thoughtomator]

personally I would not sell silver to buy gold at this point... silver/gold ratio is still way way way below historical average

[Zippyjuan]

Looking at a 20 year chart it doesn't look that far off:
http://goldprice.org/gold-silver-ratio.html


36 year chart: