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In 2011, gold’s price reached as high as $1,910 an ounce. Fast forward to today, and that number seems incredibly high, especially because earlier this year the metal had plummeted to only $1,195. That’s a huge loss: $715 an ounce, or almost -38% from just 2 years ago. Gold mining stocks have been hit even harder, dropping -63% during the same time frame.

Since last October, stock market experts and prediction devices have been advising people to sell. This message became even louder this past spring, when the price really starting plunging. However, recently, the same team of experts and stock technology tools have indicated that it’s time to buy. This does not mean that the price of gold is ready to climb quickly; it just means that the opportunity to buy gold at a significantly lower price is here.

Gold has begun its slow and steady climb back up in price. There will be bumps along the way, and it won’t always be easy or consistent. But, it will in all likelihood, climb back above the $1,400 mark soon. Once it reaches $1,475, the next period of resistance or challenge likely won’t be until it hits $1,600. But, even at $1,600 your investment is doing great (if you bought it now, around the $1,300 mark).

It’s truly impossible to know when the rally will happen, or even if it will happen, but historically gold has seen periods of decline like this before, and has rebounded better than ever from a value standpoint.

We are also at the early stages of a historically bullish period for gold in August, September and October. This means that historically, you may see some early growth if you buy gold now. However, do not let the short term cloud your vision, whether positive or negative. Gold is a long term buy, and should be thought of as such.

Physical gold has benefited from a demand perspective from the poor price performance. Many people around the world have bought physical gold recently, as the price has made the metal more accessible, and quite the bargain. As the price for gold begins to grow, and investor sentiment for the metal begins to tip more towards the positive side of the spectrum, physical gold will become more expensive. If you are still unsure, then buy when it hits $1,400, or $1,500, or even $1,600 an ounce. Just know that waiting adds risk to your long term value proposition. 

Gold prices now