People buy gold for more than its aesthetic value but as an investment that could have big returns in the future. The price of gold has gone up in the last couple of years. Gold is more accessible to ordinary people. Everyone tells you to buy gold but they don’t tell you where or how to sell gold. The industry is full of experts who claim to know where the price of gold will go at a particular time. Some predictions were pretty sensational and off the mark but some were right on the money.People have lost out of good opportunities to make money because they put a lot of stock on what the experts have to say. However, experts aren’t always right.
Right now the headlines are predicting high returns on gold investments. Everyone seems to be excited that gold has reached $1,550 and the question on everyone’s lips is: “Is it the right time to sell?’.Geopolitical risks and uncertainty created by the U.S trade war with China, America’s actions in Iran, the pullback from Syria, impeachment, Brexit point to an even bigger increase in the gold price. Will it breakthrough $1,550? Should you hold on to it until it does? We should learn from history. We have been here before and many have witnessed how quickly things can turn the other way.
In 2011, the gold price hit $1,900. Things got a little hyped up with analysts saying that gold was in a bubble which could grow to $5,000 before it pops. People who wanted to make a lot of money from the gold they owned held out for that magical $5,000 point. Ofcourse that didn’t happen, instead the price started dropping. People who had wanted to sell gold Brisbane but didn’t because they had listened to “analysts” lost out on making some actual profit. The lesson learned: no one can predict gold with absolute certaintybecause there is no one with a crystal ball to do so
At the beginning of 2012, headlines read that gold could go as high as $6000 an ounce before 2014. The price was $1679/oz on the 23 Jan 2012 in March of 2014 the price had dropped to $1,382/ oz. Not only did the price not reach the predicted target, it went far in the opposite direction and people who had held out with their gold wished they hadn’t done so.Similar predictions are being made now. Gold hitting $6,000 isn’t implausible. It is very possible and likely but the problem with this particular prediction is that it was specific about the time
In the run up to Donald’s Trump election as the President of the U.S analysts were predicting the price would go up to $1,500.However, after Trump’s Presidential election gold never went as far as that. It struggled to even hit $1,300 after the election.
The price of gold on 10th November 2016 was $1258.00/oz. By the 31st of July 2017 the price of gold was $1268/oz. The elections were held in November 2016, it turns out that the predictions were way off the mark. The point is: Sell gold when you need to. Find a reputable dealer to sell gold Brisbane to.