When is the Best Time to Buy Gold?

There are many factors that affect the price of gold, but you still may be wondering: when is the best time to buy gold?

As a potential gold buyer, or someone looking to expand their personal precious metals inventory, you want to get the most bang for your buck and ensure that you purchase at the best time possible.

The experts at Nationwide Coins are here to guide you in the best time to purchase gold!

Today could be the right time to buy gold for you.

When Prices are Historically Lowest

While the price of gold is certainly affected by a variety of factors and can’t fully be predicted, there are certain trends within the calendar year that can influence when you purchase gold. 

Some buyers and companies have figured out that gold prices are historically lower in the second quarter of the year, specifically in the month of March.

That being said, you can of course monitor prices over the years for yourself to determine during which time of the year you should buy physical gold.

When Prices are Low

This is perhaps the most obvious way to predict when the best time to buy gold is when the price is the lowest. If you buy at a low price, you’ll likely be able to make money at a later date.

Of course, this can be hard to predict if you’re new to the gold market. Look back at historic markets over the past two years to determine what a truly low price is, and how that compares to current prices.

When The World is Stable

Recently, gold hit record highs at over $2,000 an ounce due to the novel coronavirus pandemic. Many people rush to buy gold in times of instability, which is certainly a tactic in itself! Having gold as a safe haven against your traditional stocks is a great strategy, so you can certainly purchase when the world is uncertain.

However, if you are mostly concerned about price and getting a good return eventually, then buying when the world is stable and the economy is doing well is your best option!

When You Are Ready to Buy

At the end of the day, the best time to buy gold is when you are ready to buy it. Perhaps you came into some extra money through an inheritance and are ready to start your bullion journey! Or maybe you are looking to hedge against a traditional stock investment and don’t want to wait for the “perfect” moment to buy gold.

Along those lines, there really is no “perfect” time to buy gold. You can research and listen to experts all day long, but the best time to buy is when you yourself are ready to begin your bullion journey!

Today could be the right time to buy gold for you.