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Friday, March 24, 2006

When To Sell Gold

When to sell gold is an important question. Much depends on why you bought gold in the first place and why you have it.

If you bought gold coins for pleasure because they look nice then it is unlikely that you would even consider selling your gold. However if you bought gold bullion in the form of bars or antique gold coins or even proof sets, then it is quite likely you bought your gold with a eye to the future.

Then the question, when to sell gold, becomes an issue.

The value of gold, as against the various currencies, goes up and down. At the top of this website you can see the gold price in USD and Euros. See also the gold price per ounce page for the gold price in your local currency.

So the next question becomes, Are you holding gold for the short term of the long term? If the short term then the value of gold on a day to day basis will assume a bigger importance. If the long term then it is the long term trend that will be of most interest.

For some people when to sell gold is when they need the money. For others it is when the value of gold rises well above the value it was when they purchased it. So the reason why one is selling gold can be important too.

Taking all these factors into consideration and leaving nothing out will give one a good indication of when to sell gold.

It may not always be when you think. And of course one should consult one’s financial advisor if one is buying and selling more for investment purposes than as a coin collector.

Whatever the reason why you have gold coins, knowing when to sell gold is just as important as knowing when to buy it.

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