If you have been waiting for the perfect time to invest, that time is now. Following a summer long bull run which saw strong gains for weeks on end, gold has been trending slightly below $1500 this week, which gives the best opportunity yet to jump into gold as an investment or diversify an existing portfolio.
Don’t wait too long though as there are events on the very close horizon that look set to incite price momentum once again, not least of which is the ongoing impeachment saga in the USA and yet another delayed Brexit in the UK. Add to this an imminent expected rate cut and disappointing data across house sales, manufacturing and consumer confidence indexes and it surely won’t be too long before price movement trends upwards.
Let’s not forget, in recent weeks a host of respected experts have made bold predictions for gold prices. Most recently, analysts at City Index said they expected price lulls to be temporary and doubled down on a bullish outlook for gold. The Australian bank, Westpac concurs, with its analysts revising its gold forecast upwards earlier this month.