The Modern Day Gold Rush!!!
If you’re dying to get rid of that unwanted gold trinket, now’s the perfect time. That’s because in this damaged economy, GOLD is the only thing that continues to rise!
On August 8th, gold reached a high when it went for $1,700 an ounce on Monday. Today the market for gold closed at $29.80 and the price of gold rose to $1,740 an ounce!
The rush is due to investors getting nervous at the failing stock market.
Why Does This Happen?
Gold is a safe haven and a form of investment when stocks, bonds, and treasury bills becomes unpredictable. As the US dollar deprecates, metals like Gold and Silver has continued to increase in value since 2008. Ken Rogoff who is a Harvard University economic professor stated:
“For a very rich individual or a very rich sovereign wealth fund, buying gold is the equivalent of stuffing cash under a mattress,”
Rogoff says Standard & Poor’s downgrade Friday of the U.S. government’s credit rating has helped to fuel this latest gold rush. Gold has been at a high value since B.C. So it makes sense in an economy where paper begins to lose value, the only thing that’s lucrative is metal.
What This Means For You
The first thing you need to do is check your jewelry boxes, ask Grandma for any trinkets she no longer wants and get them appraised. After that research sites like cash4gold.com and expressgoldcash.
Also do some footwork in your area and see who gives the best offer for your gold return.
There are stories of people getting anywhere between $5,000 to $20,000 for their gold exchange. If you’re lucky enough to find gold at an affordable price, African Markets would be a good source.
The point is, gold prices are soaring and predicted to be valued over $2,000 an ounce in the near future. Experts are even predicting that it will surpass the all-time high in 1980 when gold hit more than $2,400. While the economy continues to struggle, those with gold pieces will find themselves with a fortune!
I say get out there and get diggin! {Finds shovel}
Source: npr
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