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Should you wait for the price of gold to fall to invest? Experts weigh in
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Gold prices have soared in 2024, reaching record highs multiple times across the year. Gold is currently at an all-time high of over $2,600 per ounce. A year ago? The average price was just $1,800.
The reasons for the run-up are many: Inflation, geopolitical tensions, and a general flock toward safer investments chief among them. But one thing’s for certain: Those who have bought in have gained big.
The question now is will that trend continue? Is it safe to buy today and still assume growth, or should hopeful investors wait for prices to drop before getting in? We asked some experts to weigh in.
Considering a gold investment now? Learn more about your options with Preserve Gold here.
Should you wait for the price of gold to fall to invest?
In some cases, waiting for the price of gold to drop to get invested could be a mistake. In other instances, it may be worthwhile. Here’s when each applies, according to the experts we spoke to:
No, you shouldn’t wait for the price of gold to fall to invest
If you want to wait for gold prices to fall to invest, you first need to be sure that’s something that will happen. While there’s a chance they will, it’s just not guaranteed — especially with the many economic and geopolitical factors (plus a presidential election) currently at work. That means waiting could come with quite the opportunity cost.
“There is a chance that the gold price does not fall significantly enough for retail investors to get in under $2,000 and instead continue to break all-time highs,” says Ben Nadelstein, head of content at precious metals marketplace Monetary Metals. “If consumers wait to buy gold, they are potentially waiting to buy when interest rates will be lower and the shift to higher yielding assets like gold will have already pushed prices out of reach.”
It also depends on your goals. If you simply want a tangible way to hold your wealth, buying now can certainly help you achieve that. And if you’re eyeing gold for its long-term benefits — like inflation protection or to safeguard your portfolio from risks in other asset classes — then buying earlier is always better.
“Long term holders of gold have been well rewarded,” says James Cordier, CEO and head trader at Alternative Options. While that may mean riding a few ups and downs over the years. “They’re rewarded for doing that as well,” he says.
Start investing with Preserve Gold online now.
Yes, you should wait for the price of gold to fall to invest
If you want to maximize profits and are willing to wait it out, price-watch, and sell your gold off once prices rise again, then holding off could be the better move for you.
“If consumers are looking to maximize potential returns, then they very well could wait for gold prices to fall and buy at the bottom,” says Eric Elkins, CEO of financial consulting firm Double E. “The one jarring issue with this strategy is no one really knows when gold will drop in price or bottom out. There is always a possibility that the consumer could miss on gains if the prices continue to go up over a lengthy period of time.”
To get around this timing-the-market approach, Elkins and other experts suggest doing what’s called “dollar-cost averaging.” Rather than buying a specific amount of gold, you instead commit to buying a specific amount of dollars in gold — regardless of how much it gets you. This helps you still buy into the asset without needing to price-watch and time your purchases.
“If I commit to dollar-cost averaging, I will not time the price of gold, but will be able to buy some now, as well as when the price begins to come down,” says Christopher Mediate, president of Mediate Financial. “This allows you to increase your position still but accumulate more shares at a lower price.”
How to invest in gold
Whenever you decide to invest in gold, there are many ways to do it. You can buy physical gold bars and coins (Costco now has them), or, if you’re saving for retirement, open a gold IRA. You can also buy and trade gold stocks and ETFs, or purchase gold futures if you have more investing savvy. Talk to an investing professional if you need help making the right decision for your portfolio.
Learn more with Preserve Gold now.
Damascus — In a remote corner outside Damascus, a now abandoned potato chip factory has shone a light on one of the ousted Bashar al-Assad regime’s many dark, but open secrets.
A CBS News team gained access to the site, finding a storeroom lined with hydrochloric acid and acetic acid on an industrial scale, which are precursor chemicals needed to make Captagon, one of the most popular street drugs in the Middle East and beyond.
Ahmed Abu Yakin is with Syria’s Hayat Tahrir al-Sham, or HTS, one of the main groups in charge of the country after Assad fled on Dec. 8. Yakin says this massive underground stash of Captagon was found just days after the rebel group’s takeover. The pills stuffed into large stacks of household volt regulator kits ready for shipment.
Often referred to as “poor man’s cocaine,” Captagon is a highly addictive amphetamine-type stimulant.
“We feel bad for the young people who were addicted to it,” Yakin said. “The Assad regime was destroying a generation and couldn’t care less. They only cared about making money.”
And that money is staggering. Analysts estimate the Assad regime raked in $5 billion per year from the trade, dwarfing Syria’s official budget and making it a vital lifeline for the bankrupted state. The drug costs just pennies to make but can sell for up to $20 for a single tablet. The haul seen at the abandoned factory is potentially worth tens of millions of dollars.
For years, neighboring countries accused Assad’s Syria of being the world’s main supplier of the illegal drug. In March 2023, the U.S. Treasury Department sanctioned several Syrians for their alleged involvement in the “dangerous amphetamine”, including two of Assad’s cousins.
“Syria has become a global leader in the production of the highly addictive Captagon, much of which is trafficked through Lebanon,” said Andrea Gacki at the time, who was then-director of the Treasury Department’s Office of Foreign Assets Control. “With our allies, we will hold accountable those who support Bashar al-Assad’s regime with illicit drug revenue and other financial means that enable the regime’s continued repression of the Syrian people.”
Now, his wildly lucrative drug business appears to have been crushed, along with his brutal and corrupt regime. For Yakin, Captagon has no place in Syria’s future.
“We will destroy it all,” Yakin said. “We will eliminate anything that has to do with drugs, and anything that has to do with the criminal Assad regime.”
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