Knowing The Right Time To Buy & Sell Precious Metals

When it comes to buying or selling precious metals, you will want to choose the right time carefully to ensure that you get the best possible price. The price of precious metals changes daily, so you will have to be patient and do plenty of research to educate yourself so you can recognise the best time to take action. Below are some tips to help you understand when it is best to buy or sell your precious metals and maximise your investment return.

How The Economy Affects Prices

Commodities will traditionally rise and fall in value alongside the demand and supply of the item. When demand is high, the price goes up, and when demand subsides, the value decreases. However, gold and other precious metals do not work in the same way. When a company or prominent investor starts selling off a significant stake in their gold reserves, this can force the price of gold and other precious metals down. The value of precious metals depends on how much gold is available to buy and who is selling it, so you need to keep an eye on the market to know when the right time to pounce is.

Investors’ Confidence

You can also see investors’ confidence affect the price of precious metals, and when there is low confidence in the banks or stocks and shares, investors typically turn to precious metals such as gold and silver. When this happens, the demand for gold increases, along with the price, which means you can pay more for your investment. As investor confidence increases and they invest their money in other areas such as the stock market, demand for gold goes down, along with its value. This is an excellent time to buy gold coins for sale in Brisbane at City Gold Bullion. You can also opt for another precious metal investment wherever you are in Australia.

The Best Months To Buy & Sell Precious Metals

If you search the historical index of the price of precious metals, some patterns appear to help you choose the best time to buy and sell. The price for gold and other precious metals often takes a dip between March and April, making it an excellent time to add them to your investment portfolio. You also find a drop in the price between June and July, so this can also be a fantastic time to invest. The other months of the year traditionally see the prices increase, so it is a better time to offload your investment and liquidate your assets.

Use A Reputable Broker

Whether you are going to buy or sell your precious metals, you will want to ensure that you use a reputable broker’s services that will make your trades a simple process. With Australia being a large producer of precious metals, there are plenty of excellent brokers with who you can decide to do business. Compare the prices each broker offers, speak to each one individually, selecting the one with which you have the best rapport. They may also give you more insight into this type of investment that can see you maximise your returns on your investment, helping you choose the best times to buy and sell.