""In 2020 is it a good idea to wait for a 30% drop in the spot price of gold to buy gold if there is a market crash?"
FWIW I don't see a $475 haircut any time soon.
Also if you wait and POG rises then you are forced to chase or sit out. Maybe you sit out and see POG rise even higher than you have to chase or be left out completely. Will buying at $1575 versus a hoped for $1200 really hurt if POG goes to $2800?
Those wishing to wait have had several years now (2012 until 2019) to buy at the price they now hope gold gets chopped back down to. Seems like a strange strategy to me. Pass on $1300 POG for years and years, then when it hits $1600 hope for it to go back down? Where was the buying during the better part of a decade at the price they so like to see now?
If POG rises a mere 15% from today it makes new ATH, but not inflation adjusted. Of course if it is a new ATH adjusted for DEflation it is even higher. Once POG betters $1900 I think irrational exuberance steps in and we see 10% swings back and forth while the "geniuses" pick each other's pockets.
I personally passed up buying multiple bags of Junk silver for under $5K because they are cumbersome. Now I look back and think what the hell was I thinking! I knew better yet still passed on it.
Many will have same experience when looking back and thinking I "didn't buy" so much gold at $1479 or lower when I could and now it is $1850.
FWIW I stopped buying Junk when it hit $10K bag. Now what is it? $20K maybe? Thankfully I bought a couple bags below $5K.
Let my poor decision making help you. Wait and be sorry. Buy now and be willing to stomach a haircut where you can buy more. Ultimately PMs are not relics and are not worthless. Paper money always is eventually. Would you rather overpay because you didn't wait and the haircut comes or wait and be left out and have to overpay later?