For those people who have bought gold when its price was below $1100/ounce rate, is it a good time to sell it?
[Please note that what I write here is just my personal opinion and I am not responsible for any loss in result of selling/buying gold on my advice]
For the past few weeks, gold rate is not changing as aggressively as it was changing few months back. Gold rate has increased from $800/ounce to above $1200/ounce in just few months.
Such increase of price has increased the number of interested buyers who want to invest their money in gold. This interest by many buyers has helped gold rate to reach such heights and currently, the rate is quite stable:
Now, selling/buying gold is always a risky business and such decisions are very difficult to make. One wrong decision can cost you so much money.
If you listen to the experts, many of them believe that gold is going to reach $1200/ounce again and then will continue to rise. Some of the experts however think the opposite and they believe that just like 1980, gold rate may start to decrease again.
Am I making you confuse?
What can I do: this business is risky and very confusing : )
What would I do in such situation?
If I had some gold in the current situation, then I would definitely sell at least half of it. I will make some profit and then would wait: if gold price increases further, I would keep watching where the rate is going and would sell when rate is high enough. In case the price starts to decrease, then I would wait for the rate to stabilize a little and then will buy more gold.
