Thinking about buying gold? Expert tips reveal when the best time to invest in gold will be, and how waiting could save you money. Read on for the latest advice from top commodity experts!

Planning to Buy Gold? Expert Tips You Should Know Before Investing

Gold has been a good safe haven for investors for years, but recently its prices are all over the map. Remain wary after the recent dip you may be tempted to pounce. However, you are still told in expert circles to hold off for a while. Here’s why.

Gold Prices Have Dropped, But Is It Time to Buy?

Gold prices have been declining for the past few weeks. Less than a month ago, ₹99,100 for 10 g gold was on the counter. Now it got reduced to below ₹93,942 from the price it had at present over ₹5,000 lesser in just 22 days.

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Experts Say the Fall Isn’t Over Yet

Commodity market analysts moderate the line. Gold prices are expected to keep declining, it warns and right now may not be a good time to buy.

Kedia explains that the positives on gold are wearing out, Ajay Kedia director of Kedia Commodities. Examples being; The big problems like U.S.-China trade deal is settled and Russia is going to talks with Ukraine. Even the crisis with Iran is finally starting to abate. So gold may still have downside.

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How Much Lower Can Gold Prices Go?

Kedia said we can expect somewhere around 10-12% in the downside for gold from where it is today. This looks like ₹88,000 & ₹90,000 /10 grams may not be ruled out at all. At the price, experts advise just start nibbling on buying – purchase in a SIP (Systematic Investment Plan) manner ideally.

HDFC Securities also suggests similar to invest, says Anuj Gupta, Head of Commodity and Currency Products at the firm. He advises to wait for, when gold touches ₹85,000-87,000 at a point. According to Himadeep this could be happening in next 2 months, thus its an opportune time to invest.

Why You Should Wait Before Buying Gold

Kedia and Gupta caution that the gold rallied a lot this year so early on but those gains are probably not going to repeat anytime soon in my opinion. The good part is prices are bound to inevitably go up but at a much slower speed.

I mean, you should be patient if you are planning to invest in gold. They are likely to slowly come down again to stay a bit lower than they were before. You can score a better price in next few months just by being patient.