How to average the gold buy price

With the gold price having set a new record price in Pounds Sterling, and testing its all-time high in Dollars, you may think you have missed the boat to buy at an inexpensive price. There is another possibility, which is that these current high prices are simply a step on the path towards even higher levels. We don't know; no-one knows. It would be great if we could buy gold when the market is low and sell when the market is high. Unfortunately, efforts to 'time the market' often backfire, and investors end up buying and selling at the wrong time.

But there is a way in which you can spread the risk of higher or lower prices. You could invest your funds over a period of time. Buying over a period of time can help take the emotion out of investing. It compels you to continue investing the same (or roughly the same) amount regardless of the market's fluctuations, potentially helping you avoid the temptation to time the market.

When you spread your buying this way you will acquire more gold when its price is low and less when the share price is high. This can result in paying a lower average price for gold over time.

At Glint, we make every effort to demonstrate a balanced conversation between gold, crypto and fiat currencies when it comes to purchasing power and, while we strongly believe that gold is the fairest and most reliable currency on the planet, we need to point out that it isn't 100% risk free. While we have seen a steady increase over time, the value of gold can fall, which means that its purchasing power can also decline.