Gold's been all over the news ever since countries started to stockpile more of it (due to rising geopolitical tensions). It went almost past $2,800 only to go back to $2,668.
Part of that is because of dedollarisation. Countries are dumping the dollar, and to replace it with their own currencies in their trades (like ASEAN members) want to have their fiat backed by gold. So they are accumulating it at government and central banks level.Therefore the rise over the past couple of years.
Meaning without the tensions, this trend is not going to stop.
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I wonder if I should get in now, or wait a little further? At the pace Gold is going, I think it will reach $3k soon. However, Trump's promise to end wars might put a stop to the craze. At least, temporarily.
He never ended any wars in his last term and not only continue all the wars but made them a lot worse. Things are unlikely to be any different this time around.Additionally he has also given other promises, all of which lead to more inflation in the US and devaluation of the dollar. Meaning a good potential for more gold growing.
But to answer your headline question, gold is currently in the dip after a long and large rise. This makes it both risky and a good opportunity to get in. Risky because it may go lower but opportunity because it can be a "discount" before the bigger rise.
It may be a good idea to wait for Trump to take office and start ruining the US economy before jumping in gold.
