I understand the idea but in this case the only reason gold has to go down is manipulation and if we believe Q is behind the scenes putting an end to this sort of stuff I wouldn't be waiting to buy something which is obviously due to go up in value. Could it really be a hedge against inflation and then go down in price by any meaningful amount just after huge money printing? I don't think so. My conclusion--don't wait to buy too long, as the only logical place for the price to go is up.

Edit: I should have been clearer. I didn't mean only reason. As pointed out below selling pressure could influence the price as could manipulation and perhaps a few other small reasons. I just don't think these reasons are enough to risk waiting for the price to go down when it's quite likely that it'll go up a lot in the near future and you could miss the boat.

I understand the idea but in this case the only reason gold has to go down is manipulation and if we believe Q is behind the scenes putting an end to this sort of stuff I wouldn't be waiting to buy something which is obviously due to go up in value.

Could it really be a hedge against inflation and then go down in price by any meaningful amount just after huge money printing?

I don't think so. My conclusion--don't wait to buy too long, as the only logical place for the price to go is up.