Gold prices have recently dropped by 3% due to a tariff deal between the US and China. Rick Kanda, Managing Director of The Gold Bullion Company, emphasizes that gold investment should be viewed as a long-term strategy, regardless of short-term market fluctuations. He advises investors to focus on their financial stability rather than reacting impulsively to price drops. Kanda reminds investors that obsessing over daily price changes can lead to poor decision-making and encourages a measured and patient approach to gold investment.
Gold investment should not be dependent on whether the market is either surging or falling; you should be more focused on whether your financial situation enables you to do so at that particular time.
Gold should not be looked at as an asset you react to impulsively. Remember that gold is a long-term investment, not a short-term trade, and drops and market fluctuations are all part of the cycle.
There is no need to check prices daily. Yes, check them now and then just to be aware of where the market is at, but there is no need to do it constantly.
Gold prices have increased over 40% in the past year, reaching an all-time high of over £2,630 per troy ounce last month.
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