It's funny how some people make off the wall predictions. "I wouldn't buy until 300$ blah blah"
Most likely, that person knows nothing about "the right time to buy".
Usually, when an investment opportunity reaches the likes of a majority of TW, then it may not be such a good opportunity after all.
Oh, and if you really want to buy into gold, I would suggest an investment other than coins. Like someone else said, purchase metals funds, company's, or possibly futures.
One major reason for gold's increase for the past 9 mo. has been world instability. Iraq, Iran, N. Korea, France's affairs, Katrina, ect, ect...
Here is an excerpt from
http://gm.bankofny.com/includes/cmdispatch.asp?prod=mua_.pdf&viewDate=2/1/2006&file=2926 (.pdf)
"Today, however, we start with gold: as regular readers will be aware, we have been bullish on the yellow metal (and related currencies such as the CAD and ZAR) for some time now. And given just how aggressively it has rallied since last summer, it could be reasonably argued that it has almost become the key bellwether of investor sentiment. With this in mind therefore, we find the gold price’s technical patterns somewhat disconcerting. Specifically, we note three signals that suggest to us an increasingly mature uptrend. The first (and most simple) is that the price pattern since mid-December looks increasingly like a “rising wedge” (a pattern that often emerges at the end of trends). The second is the growing divergence between the price action and our favoured momentum indicator (a 14 day RSI). In other words, while we might be seeing higher highs on the price, we are also seeing a series of lower highs on our RSI. (As regular readers will be aware, we believe this is normally indicative of a change in trend). A third ‘signal’ is suggested by the latest CFTC data: although there have been some signs in recent weeks that positions have been scaled back slightly, speculative players nonetheless remain extremely long of gold. Taken together, we wonder whether these observations constitute a warning signal that the extraordinary bull market of the past six months or so may be about to draw to a close (or at least temporarily so). (SD)"
