Wondering if there’s a best time to sell gold? Well, in an ideal situation, you wait until the price peaks and sell before it can go down again.
There’s no way to predict when a peak will happen, but gold analysts will use charts of past performance to determine when it’s best to sell gold. A comparison of two particular charts suggests that it may be time to sell gold.
If you overlay a chart showing gold’s progress in recent years with a chart showing the NASDAQ in 1995 you see a striking resemblance. In case you don’t remember what happened in the 1990’s leading up to 1995, investors were getting rich off the internet stocks they bought. Then it all came to a crashing halt with the dot com bust.
Investors who held their internet stock watched it’s value plummet, but those who sold out just before the crash walked away with a lot of money.
Is gold poised for another crash? No one knows for sure, but one thing that is certain, the high price of gold today makes that unused gold jewelry worth quite a bit. That means that now might just be the right time for you to sell gold.