There has never been a better time to invest in gold and with these gold investing tips, your profits will be much greater. Events are coming together that will propel gold to new heights that will make the gold move of 1979-80 look like peanuts. To capitalize on these gold investing tips, it is important to know why gold is going to make this move.
Events are converging that leave gold nowhere to go but up. After 60 years of government meddling in the free market, we have reached the last step in the destruction of the dollar’s value. The current administration’s quantitative easing policy and its attempt to take over 18% of the U.S. GDP by nationalizing the healthcare industry, all but guarantees gold going to $1,200 before the end of the year and much higher after that.
Gold Investing Tips You Need To Profit
The best gold investing tips are simple ones that are easy to remember and follow. With both physical gold and gold stocks buying weakness and selling strength is the key. We are in a bull market in gold, so if you buy on weakness, you may not catch the exact bottom, but you are buying at the right time. Another gold investing tip that relates to selling into strength is to not get greedy. Nothing goes straight up, so it is important to set goals for stocks when you buy them. If you set a goal of 25% profit, stick to it, with at least a portion of your shares.
Another important gold investing tip to remember is, there is no profit or loss until you sell. It does you no good to watch your stock rise and then watch it go all the way back down without taking profits. Set your goals and stick with them. If the market is running put a trailing stop on your position so that it triggers a sale automatically if it drops by the percentage that you have put in. If the stock continues up, the trailing stop follows it up and won’t be triggered unless it drops that set percentage.
As far as gold investing tips for physical coins or bullion the same rules apply, but right now I would put them on hold. Any coins or bullion that is purchased now should be held for the long haul because the price of gold is going to go much higher in the next couple of years.