Afternoon everyone….
This is the question all investors have asked themselves many times over the years. While there is no definitive way of knowing at that exact moment. The only way to find out if you are correct or not is to make the decision and see how it turns out.
Obviously, if you do your homework and use the data and information available to make and educated decision. Then at least you should feel good going in.
BUT…..
Since hindsight is always 20/20, you will know fairly quickly if your decision was correct.
Let’s use gold for this discussion. Gold is down nearly $80 over the last two weeks. The current price is $1,868. With the pending FED interest rate increase, and the monthly numbers for April soon to be released.
Is this a good time to buy????
While I’m no financial advisor, nor am I giving financial advise. My personal thoughts are we will see lower prices in the near future.
Because of these drops over the last two weeks premiums on gold have risen.
Examples:
I’m going to use the 2022 Gold Buffalo coin as my choice.
Apmex (who I’m not a fan of) is currently selling them for $2005.09. That’s $137.09 over spot price, or a 7% premium over spot. THAT’S NOT A GOOD PRICE….
JM Bullion (who used to be my favorite, not anymore…) is currently selling them for $2,003.59. That’s $135.03 over spot, or a 7% premium over spot.
Two of the three places I usually order from did not have them in stock. But one did, and check out this price difference…..
Monument Metals (One of my absolute favorites) is currently selling them for $1,974.59. That’s $106.59 over spot price, or 5.4% premium over spot.
I am not affiliated with any bullion dealer, but I know where to find trustworthy and well priced dealers.
Personally my number for premium over spot is 5%. So being 5.4% is in my wheel house for sure. I just have to decide if I think it will go lower.