Is it a good time to buy physical gold?
“I remember 2008 like it was yesterday. Gold cratered along with everything else in the second half of that year. It lost around 30% – falling from close to $1,000/oz to $720. The mining companies fell by a lot more. Yet there was a scramble in the physical gold markets. Bullion dealers had never been so busy. The general public were rushing to get their money “outside the system” into an asset that was nobody else’s liability.”
USAGOLD note: We were one of the firms at the center of the 2008-2009 demand storm. The situation today is similar but not what it was then – not yet anyway. It is important, though, for would-be gold investors to understand that the time to buy gold is when market conditions are relatively stable as they are now. When the dam breaks (and the current situation in the United Kingdom is a good example), premiums rise, delivery times lengthen and sometimes there is zero availability of popular portfolio inclusions. Something to think about if you believe we are in the quiet period before the storm.