@mcarter73 on XAUUSD | PriceONN Community
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Is now a good time to get into gold? I've been reading about it a lot, and it seems like a safe haven asset, especially with everything going on in the world. But the price is kinda all over the place atm! Any thoughts from more experienced traders? Trying to learn as much as I can!
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Update: I just saw that gold is below 4960. Does that mean it's going to keep dropping? Should I wait for it to go lower before buying in, or is this still a good entry point? So confusing! Maybe I should just stick to crypto for now haha.
Gold's always a good bet for the long haul, Madison. Yeah the price action can be choppy but that's just volatility. Stick with it, look for dips near the 50 SMA for entries. It's a safe haven for a reason.
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@mcarter73 Gold can be a good safe haven, but it's not always a guaranteed win. It definitely moves around a lot! I'd suggest looking at the weekly chart to get a better sense of the overall trend before jumping in. Also, practice on your demo account some more, get comfortable with the volatility.