As long as governments around the world keep their money printing presses on Mach 1 a prudent investor would be wise to have a small percentage of their portfolio allocated in gold. So if you are thinking about buying some gold the question is this, does the recent sell-off of the precious metal signal an opportunity to buy?
My answer is no. I use the chart below to make my decision.
looking at the one year chart for the price of gold you can see there is some resistance when gold drops to 1300. I do not think now is the time to buy gold clearly it is not in favor at the moment, but since I argue everyone should have some gold to protect themselves from currency devaluation; I would wait till the price drops below 1300 you will most likely be getting the best possible price when that happens.
Disclosure: I am long GLD.