The Importance Of Timing When Investing In Gold

June 19, 2023

While gold has always been the major commodity for wealth, like other assets, the current price is never fixed and some investors seem to know the best time to move into gold. If the truth be told, gold has seen winners and losers over the years.

Lucky Gold Miners

Perhaps the most striking wealth was accrued by a few lucky gold prospectors, those that staked their claim at the very start of a gold rush and happened to hit a rich vein on their plot. This would catapult you into the millionaire’s lifestyle almost overnight; indeed, some of the wealthiest families today accrued their wealth from gold mine investments.

Investing In Gold Mines

Rather than trading gold, some canny investors buy shares in gold mining companies, perhaps they have insider information that new veins were discovered – either that, or they happened to be in the right place at the right time.

The Australian Gold Rushes

The first began in the mid-19th century when prospectors found good quantities of gold in a small town called Orange in NSW. One man, Edward Hargraves, had been to the California Gold Rush and he adopted their techniques and found a large amount of gold, which sparked an influx of immigrants. This transformed the convict colonies into towns, where Australians and Chinese immigrants flocked in to see if they could find their fortune. Australia’s population rose from 430,000 in 1851 to more than 1.7 million in just twenty years.

2023 Gold Investments

While there might not be any more gold rushes in Australia, there are still investment opportunities; most gold analysts are predicting a run on gold for the remainder of the year. When the price peaks, you would want to sell gold jewellery Adelaide dealers and investors in other places would go for. Among the first places to go is a bullion dealer. After a slow start, gold has performed well in the second quarter, largely due to global volatility and rising inflation.

Forging An Alliance With A Reputable Gold Bullion Dealer

If you are going to move some of your wealth into gold, you have a choice of gold coins or bars; both of which are attractive. Gold coins such as the American Eagle, American Buffalo, Canadian Maple Leaf and Britannica are made from 99.99% gold and they are globally recognised. Gold ingots start at 10g and go right up to 1kg, with every size in between. Once you register with an established gold bullion dealer, you can buy and sell using their secure online network that connects you to the major markets.

Buying Low-Selling High

Of course, this is the goal of every investor and if you manage to time things right, there’s a lot of profit to be made. If you set yourself a timeline of, say 2 years, this could give you quite a return if you got in at a low price and sold at the peak. Of course, making a gold investment isn’t about hit and hope; rather you need to analyse all available data and make informed decisions.

What Do The Experts Say?

This is the first question you should ask yourself if you are thinking of getting into gold and luckily, the Internet can take you to where the answers lie. Look for forecasts for the remainder of 2023 to find out what the financial analysts have to say about gold’s predicted performance for the rest of this year.

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