Is Now The Best Time To Enter the Precious Metals Market?
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According to a survey, gold is perceived as the third-best long term investment after real estate and mutual funds. However, people are often confused about the best time to invest in these metals.
The prices of precious metals are always fluctuating. Savvy investors look for the right time to get the best price. Can’t decide if you should buy gold now or wait? Even if you get a good price now, can you get a better price later? Read this blog to decide if now’s the right time to invest in precious metals or not.
Fluctuation in Price:
Ever since buying and selling gold became legalized again in the US, prices have seen a significant rise. Initially, the price was $120 per ounce in the open market. This price reached its ultimate peak in 2011, when gold hit an all-time record of $1,895. By 2018, gold prices reached $869.75 per ounce due to the fiscal crisis.
In the first few months of every year, the price of gold tends to surge and then come down in spring and summer. The price takes off again at the end of summer. On the other hand, silver doesn’t experience the January low. Still, it’s considered better to invest in silver in late June.
Current Market Trends:
Precious metals are experiencing an increase in demand, which has also shot up the price. According to statistics, gold is expected to reach $1,257 per ounce by 2020. This has created lucrative buying opportunities for investors and active traders.
The recent figures published by the Federal Open Market indicate that the price will remain stable for some time and increase in the future. Therefore now is an ideal time to invest in precious metals, especially gold.
The increasing prices of precious metals have caught the attention of analysts and traders. The details mentioned above make it clear how the price keeps fluctuating and what months are suitable to buy silver and gold. If you’re planning to invest in gold or silver, the odds are in your favor. All you need to do is find a reliable metal exchange company and make the most of your investment.