If you are planning to buy some more gold coins or gold bars soon, you might want to do so before the end of the year.
Current gold prices are down from where they were, and you can catch a good price on any downward move between now and the last day of the month.
Why now?
Because the big gold traders, buying on behalf of funds, are coming to the end of the quarter and the end of the year. Many will be selling some gold to take some profits, make themselves look good, and inflate their bonuses.
This selling will put further downward pressure on gold during the last two weeks of the year.
Come January, all other things being equal, the price could start rising again as those traders stop selling and start buying again.
Of course, “all things” never are “equal”.
Other factors, like rising inflation in China, or domestic politics impacting the U.S. economy, can also make their mark on the price of gold.
That’s what makes watching the current price of gold so interesting. So many different factors come into play.
But absent any major influences from elsewhere, buying gold coins or bars during the last few weeks of the year can be a smart move.