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Should you buy gold now or wait for the price to drop?
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The price of gold hit a record high earlier this month, hitting $2,160 per ounce. But then, it broke the record again, rising to $2,204.04 on March 20, according to American Hartford Gold. This comes as gold has made record gains in the last year, partially thanks to a renewed interest in investing in the precious metal. Gold can be a major help for investors looking for protection against inflation and a safe way to diversify their portfolio.
Like all investments, however, the timing needs to be right for the return to be worth it.
Against this backdrop, then, many are wondering if they should buy gold now, even at today’s current price, or if they should wait for it to drop down again. While the answer to this question is specific to the investor, there is a compelling case to be made to buy gold now. Below, we’ll break down three reasons why you may not want to wait for the price of gold to fall.
Considering a gold investment now? Explore your top options here today.
Should you buy gold now or wait for the price to drop?
Here are three reasons why investors may not want to wait to invest in gold.
There’s no guarantee that the price will drop
Waiting for the price of gold to fall sounds ideal, in theory, but there’s no guarantee that the price will drop anytime soon. Based on recent trends, gold’s value may only increase short term. So, while today’s price of $2,167.58 per ounce (as of March 25) may seem elevated, it could prove to be beneficial when stacked against a $2,300 cost per ounce in the months or years to come.
And remember that gold is less of an income-producing investment and more useful as a portfolio protector, anyway, so buying in (or selling) simply based on the price at any given time is generally not advisable as the only consideration.
Learn more about the price of gold here now.
You’ll miss out on inflation protection while waiting
Even if you wait for the price of gold to drop — and it does — you’ll miss out on vital inflation protection that gold provides in the interim. And, based on the latest Bureau of Labor Statistics report, inflation is still a concern. It rose in February and remains more than a full point above the Federal Reserve’s target 2% goal.
With this understanding, it makes sense to invest in gold now to hedge against inflation by adding an asset whose value tends to remain steady while inflation erodes the purchasing power of the dollar.
You may be able to make a quick profit
Gold is not and should not generally be considered an income-producing asset in the same way that stocks, bonds and others can be. It is, as stated, better as a portfolio diversifier and hedge against inflation. But that doesn’t mean that you can’t make a profit from gold by buying it at a low price and selling it at a higher one.
While this can generally take years to materialize, the price of gold has broken records multiple times over the last few years. With this understanding, you may be able to make a relatively quicker profit by buying the yellow metal now versus doing so in a different economic climate.
The bottom line
Waiting for an investment price to change favorably is always risky but is arguably more so for alternative assets like gold. And although the price of the precious metal has risen significantly in the past few years, it still may make sense to buy now. After all, there’s no guarantee that it will stop rising and, even if it falls, you’ll lose vital inflation protection in the interim. Plus, with prices increasing as they have been, this may be a rare opportunity to earn some income from an asset historically better known as a portfolio diversification and inflation protector. For all of these reasons, it may make sense to invest in gold even now. As is the case with all investments, however, you should thoroughly consider all options before buying gold to improve your chances of earning substantive returns.
At 56, Kim Hale is reigniting her passion for dance, sharing her journey on social media and embracing the motto, “Dreams have no deadlines,” as she pursues a role on Broadway.
Hale, who has over 13 million likes on TikTok, said she has always loved the stage and the energy that New York City brings,
“It just feels like a city where you can dream big,” said Hale.
Hale’s dream of performing on Broadway began in her early years, driven by her passion for expressing herself through movement. She pursued that ambition into her 20s and 30s, but eventually left New York, finding the constant rejection difficult to handle. Reflecting on that time, she acknowledges that she was more vulnerable then. Relocating to California, Hale remained connected to dance, teaching and working for renowned dancer and actor Debbie Allen.
“The biggest gift I got was working for Debbie Allen, and being able to be in her world, which taught me that you can take the skills of dance and apply them to anything,” said Hale.
Hale was around dance, but she wasn’t dancing, and it turns out, that is what her heart still wanted.
“It took COVID. It took the loss of both of my parents. It took skin cancer to get me to step back into a dance studio,” said Hale.
With encouragement from a friend, Hale enrolled in a hip-hop class and “ended up loving it,” saying that each class helped her reconnect with herself.
Hale began sharing her journey on social media, where her posts took off. Broadway choreographer Jerry Mitchell commented on one of her videos, telling her, “Dreams have no deadlines.” It’s a mantra she holds close.
“I just held onto that,” she said.
In May, Hale got to perform in a special showing of “Chicago,” though she doesn’t see it as her official Broadway debut.
“I want to audition and book a show because I prepared for it. I was ready when opportunity met preparation, and I got it,” she said.
For Hale, her return to New York and pursuit of a Broadway role is about more than just achieving a dream.
“The goal is to see what I’m capable of,” she said. “You have to do the work. You have to be ready. But I believe that if it’s meant for me, it will happen. And if it’s not, maybe there’s something bigger out there.”
JC Chasez, a member of the beloved band NSYNC, is out with his first major music project in 20 years. His new album is called “Play with Fire.”
“I want to make a musical and look everybody knows me from making music so the idea is to release the music first to get people interested in the project,” Chasez said on “CBS Mornings Plus.”
He co-produced the album with Golden Globe-winning songwriter and composer Jimmy Harry. The music was inspired by Mary Shelley’s 1818 novel, “Frankenstein.”
“We’re living in a day and age where technology and humanity are interfacing like never before and Mary Shelley wrote this piece in 1818 and we’re talking about these themes today.”
It’s a subject Chasez said he’s passionate about, adding he appreciated the themes in “Frankenstein” later in life.
“We’re talking about AI. We’re talking about how we’re going to navigate a world like this and so to stumble across that, you know when you’re young you read it almost as a school project but when I read it later in life I just couldn’t believe how much it affected me,” he said.
Chasez was involved in writing the script for the musical and said they’re currently talking to directors and producers about the project.
He credits his writing partner, Harry, with helping the project come to fruition, explaining Harry’s mother was a playwright, and wrote a play called “Playing with Fire,” which Harry presented to Chasez.
“After reading it, what I loved about her story was the way she framed it in terms of making the emotional connections with the creature and the creator, you know, Frankenstein, and so we focused on the conversation that the two of them had and expanded from there and kind of came up with our own things.”
Although it’s a departure from his pop music background, Chasez said it still has elements of his past.
“There’s other songs that have that tempo, and have that pop flair and things like that, because I want people to still move and have fun,” he said. “The goal is to just really be engaging, and give people something to talk about when they’re listening to it or when they’re seeing it hopefully in the future.”
When asked if we’ll also see an NSYNC reunion in the future, Chasez said the former bandmates have talked about the possibility more than they have previously.
“Right now, Justin’s got a tour to do, and I’m releasing this record, “Playing with Fire,” so our focus is on our current projects, but there is always a conversation being had behind the scenes about the potential of something.”
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