A wise sage once asked why look at the prices people are willing to pay for your asset? You will never make money or lose money until you sell that asset and that is the root of this thought. Why go through that trauma otherwise?
Secondly on the other side, investors should have the courage to buy at low prices and sell on highs.
All words of wisdom indeed.
So with that in mind, what are the trends in gold and why and is it the right time to be buying or selling?
Gold prices have continued to see market forces influence pricing (ttps://www.mining.com/web/gold-gets-another-boost-as-us-risks-strengthen-case-for-havensh). These market forces seem to be based on two things where supply and demand come into play. Firstly, the emotions brought on by the day to day fears of a dip in value. The second is the availability of the asset to buy or sell.
On the demand side, things it seems that the world may exhale after all of the rhetoric dies down (https://www.kitco.com/news/2019-09-25/Gold-silver-prices-see-normal-corrective-pullbacks-at-mid-week.html). The general emotions around an economic collapse or escalating tensions between the United States and China does have some bearing on prices. Buy and sell trends are where emotions seem to take over rational thought at times. The fear of missing a window in time to either make a profit or not to lose a value weighs heavy (https://www.kitco.com/commentaries/2019-09-25/Are-Gold-Traders-Buying-the-Rumor-and-Selling-the-Fact.html). It is all about timing that transaction to catch it at that perfect point in time. Some would claim that is a skill while others might claim it is blind luck.
On the other side of the equation, supply is becoming a concern (https://www.mining.com/web/gold-exploration-vital-for-future-supply/) to some in the space. We see that when the demand side goes up, more investment capital becomes available. Prospecting is a capital hungry game where winners are seen winning big and losers just fade away. Now appears to be a time that favors the prospectors. So hopes firms like Westhaven who is out to raise capital.
Each of these sides will continue their never ending dance looking for profits. Each side measuring if they should sell or leverage up. Heads up though. Again you can never know until you pull that trigger to sell or buy.