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This Is Perfect Time To Buy Gold.

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“Golden Cross” May Indicate This Is Perfect Time To Buy Gold 

 

 

The UK’s Daily Express newspaper recently explained why a technical analysis of gold prices may be signal to buy gold now. 

 

“The key technical level occurs when the 50-day moving average surpasses the 200-day moving average - literally crossing each other on charts.  The 'cross' has in the past been taken as a cue to buy among some traders and momentum-driven investors.

 

“Gold tends to be a 'safe haven' where investors stash their money in times of financial turmoil. In the years following the financial crisis, prices of the precious metal jumped to record highs of $1,900 an ounce, before dropping back down as the recovery kicked-in. 

 

“In recent months prices have been climbing back up amid fears of another global crisis… Adrian Ash, head of research at BullionVault in London, said: ‘Worsening fears over negative rates and political risks like Brexit have led the return of some money managers to gold. A fast-growing number of private investors have also begun buying gold as insurance.’

 

“However, experts have cautioned against buying into investment fads, such as the 'golden cross'. Laith Khalaf, senior analyst at Hargreaves Lansdown, said: ‘There are some traders who swear by the patterns they see in charts on their screens but I would be wary of following these signals, particularly if you don't intend to keep an very close eye on them and use them to sell out as well.

 

“’The reason to hold gold in your portfolio is as a hedge against catastrophe, but it should only ever make up a small part of your portfolio, no more than five to 10 per cent….’” (“Why this 'Golden Cross' graph is PROOF it's the perfect time to buy gold...”, Express, 3/2/16.) 

 
 

...even @ 1258/oz this weekend, still time to get in.

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