Gold is at an all time high. Is it too late to buy gold?

Gold at All Time High

  • Gold prices hit a new record high of $1,970 per ounce.
  • Gold prices: $63 (RM268) per gram (1 troy ounce = 31.10 gram).
  • Analysts predict gold can go above $2,000 per ounce ($65 per gram).

Why Gold prices rallied

  • Perceived safe haven during times of economic uncertainty and crisis.
  • Lowered currency values with expansive monetary policies (re: governments printing money).
  • Lowered USD with interest rates cuts driving investors to gold and emerging markets.

Other Precious Metals

  • Silver prices have also rallied to $26 per ounce ($863 per kg).

 

Gold Movement Impact

Commodities effect

  • Precious metals miners and jewelry stocks gains.
  • Physical gold price gains.
  • Gold ETFs and funds price increase.

(Click to enlarge)

Should you still buy gold?

  • Retracement expected with indicators signaling overbought although long-term trend still intact.
  • Gold can be a form of alternate asset allocation and hedging.
  • Consider buying gold in small regular amounts instead of a lump sum gold investment at high prices.

For educational purposes only. Not to be taken as advise.

 

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Do you think gold will continue to rally?