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When is the Best Time to Buy Gold? (Updated for 2021)

By John Otis

March 19, 2021

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While purchasing gold and other precious metals can definitely benefit your investment portfolio, doing it at the “wrong time” could potentially backfire a bit.


You might get the urge to buy right away only to see the price change considerably at another time. Whether they’ve been in the game for 20 years or 20 minutes, all investors need to consider a critical question before making a gold purchase.

Is it a good time to buy gold now, or can I get a better price at a later date?

That’s one potential outcome. However, you also need to be prepared to wait for the price to drop, only for it to never happen. Unless you can literally predict the future (you can’t), you’ll need to take some risk.

Also, it depends on your own timing and the type of investment you're looking for. The answer is much more complex because you may be considering investing into a gold IRA, for example, and rolling over your 401k might be something you need to do immediately, regardless of the price of gold right now.

No single financial expert can tell you the exact perfect time, so this article doesn't have a "one size fits all" solution. Since everyone's situation is different, you'll need to use your judgement.


However, you can see which solution fits your circumstances in the end. Let's begin.


If you’ve been observing gold prices, you saw that it’s reached over $2,000 an ounce. That’s not just a random correlation.

With the pandemic turning the world economy upside-down, many have turned to gold as a safe haven. Also, because of government spending and the Federal Reserve printing trillions of dollars out of thin air (trillions with a "t"), many experts feel that one ounce could reach as high as $10,000 over the next few years!

There are no certainties, of course, but since gold has historically had an inverse correlation with the dollar's value and tends to perform well during inflationary periods and economic uncertainty, there is a perfect storm brewing for gold to increase substantially over a 3-5 year period.

It's time to think about how to position your investments now so that you can ride the upcoming wave.

Think Long Term


You should understand that gold has been seeing some major growth on a remarkably consistent basis. There are months, even years of data to look at.

There might be some drops in price, but that's normal with any type of investing. But despite the market corrections, the bull markets that follow are usually substantial.

It’s kind of like checking your weight. Just because you went up half a pound one week doesn’t mean that it’s going to stay there for good.

Gold prices have many factors influencing them, and the best way to examine them is in the long-term. Even the best football players can get bruised a few times before reaching the end zone.

Don’t look at gold as a get-rich-quick scheme. You can’t just buy some bars and sell them for twice what you bought them for the next day. Gold is more considered insurance because it is stable and protects your purchasing power.

However, with reckless governments and central banks, it would be no surprise if we see unprecedented increases in the price of gold just around the corner.

A Safe Haven In Times of Uncertainty


Gold prices aren’t affected by the seasons as much as they are by current events.

The headlines aren’t necessarily going to say “Price of Gold to Rise.” Instead, they’re going to talk about market declines and instability within various countries. These can point to troubles with the dollar, which can point to promising developments with gold.

If more “mainstream” forms of investment are in trouble, precious metals can see a significant rise in appreciation. The idea is that investors and financial institutions are aware of their value and will use them for financial protection in emergencies.

The dollar isn’t the only game in town when it comes to investing, and you could change your life by realizing how much gold could do for you.

When vs How Much


Numerous investors advocate purchasing small amounts of gold whenever possible.

This is a valuable strategy for investors who want to spend less on gold than they would with a larger, bulk purchase. They can also make their money back and more through selling their gold, if need be.

The Security Blanket

You need to see gold as a support system, one that can protect your savings and even future retirement. It’s not something that you can cash in constantly.

True, you might be able to make money off of gold sooner than you expect. It could also be that you need some cash fast, so you decide to sell your gold sooner than you anticipated or desired.

However, you should see gold as something to help you in the future, not necessarily right away. The concept of saving money for a rainy day applies greatly with gold. It’s like a heavy, shiny umbrella that you’ll always have in a safe place.

You can’t possibly save every dollar you earn. If you want to become better about holding onto your assets, investing in gold is a sound solution.

It’s not just about having something shimmery to show off or to make you feel wealthy. Investing in gold doesn’t create a mere illusion of wealth or a great investment portfolio. It can be a crucial indicator of both.

Best Day To Buy Gold

If you are wondering which is best day to buy gold, it depends on your circumstances. If you are an investor who trades gold or mining stocks, then it's more relevant than someone trying to prepare for retirement.

If you are looking to safeguard your nest egg and planning to retire, then the day doesn't matter. You essentially want to buy during times of economic uncertainty and inflationary periods.

If you are reading this right now, it wouldn't be unwise to seriously consider putting your dollars into an asset like gold, which would protect your purchasing power and increase value as the dollar decreases.

Many financial experts see a significant inflationary (some even say hyper-inflationary) period coming.

Best Month To Buy Gold

Asking which month is almost the same as asking which day. Our answer is essentially the same here.

Consider the macro and the current state of the economy in the USA. If you have been paying attention, then it's easy to see that trillions of dollars are being created out of thin air.

 Those trillions are being used to artificially inflate stock markets (created massive bubbles in many sectors) and being sent out to citizens who are spending that money in the real economy.

 But no more goods and services are being created. Most experts tell you that scenarios like these lead to inflation, and gold is an excellent hedge against inflation.

 The storm is brewing, and the ship is leaving the dock soon. The problem is no one knows when the ship is going exactly. There is an invisible countdown, and so if you are considering gold, it's best to just get on the boat, regardless if it's leaving the dock in one week, one month, or one year.

How to Invest When You Are Ready


Although gold has been around for thousands of years, there are ways to keep it beyond storing bars in your safe at home.

These are some strategies for purchasing and keeping your gold.

1. Physical Bullion

The most straightforward way to keep gold is through purchasing coins and bars. You can find these through many sources, such as online and in-person retailers. also easy to liquidate them, should you need to get some cash. However, the price of storage and insurance can add to the total cost.

2.) ETFs/ETCs

You can use exchange-traded commodities and exchange-traded funds to monitor gold prices and not take physical ownership of any gold items. These are also great for helping you to avoid the additional costs associated with physical gold. 

3.) Stocks

You could purchase stock in a gold-based company, such as one focused on mining. These can see their values rise as gold’s does. That being said, they’re also at the mercy of the stock market. Don’t be too taken aback if you see their value drop in the short term.

4.) Individual Retirement Accounts

If you are looking to safeguard your savings and retirement because of economic concerns long term then one of the best and most popular ways to invest is into a Gold IRA. Many people close to retirement or in the planning stages like gold as a store of value and a way to keep up with inflation.

If you aren't an experienced investor and are simply looking for the best way to protect your hard earned money over the years, take a look at our article on the best companies to consider helping you with a gold IRA. (Note: Some of these companies can even help you roll over your existing 401k into a gold IRA very easily.)


Keep in mind that this likely only applies when to buy gold in USA.

Final Thoughts: Buy Gold Now or Wait?


There’s no perfect moment, but if there was, this could definitely be considered the "best time to buy gold".


You can protect yourself, your savings, your livelihoods, and the comfort of retirement by safeguarding everything you've worked so hard for over the years.

There are many companies out there who help people like yourself with gold investments. One of the most reputable companies is
Goldco.

They have tremendous reputation, thousands of 5-star reviews online, very few complaints, and are even trusted by celebrities like Chuck Norris. 


You can download their free gold investment guide below.

First Glance

Best Overall in Precious Metals 

Quality Customer Support

Thousands of 5 star reviews 

Overall Rating

4.7/5

John Otis

About the author - John Otis

In the modern age of reckless government spending and central bank money printing, my sole objective is to help others protect their savings, retirement, livelihoods, and purchasing power from currency devaluation. Otis Gold has been featured in Financial Times, Yahoo Finance, Kitco News, Motley Fool, Seeking Alpha, and more. If you have any questions or comments, leave them below. Welcome!


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