Extra Extra!!! Read all about it.
You are probably familiar with this term used by the paper boys seen in films set in the “Great Depression” era. While those days are long gone, today’s subject would be deemed worthy of carrying this title. The price of pure gold sky rocketed to new heights of $1,880 (U.S.) per ounce. Bringing smiles to the faces of any business owner who buys and sells jewelry and to anyone waiting in line at their local ” We Buy & Sell Gold” stores.
You have seen the commercials, reality t.v. shows and even websites claiming they will buy your gold jewelry and give you the highest dollar amount possible. You can even “GOOGLE” where to get the best prices in town and find blogs that tell you what to look for in a business that buys and sells jewelry. Well today is your lucky day. With the economic struggles in today’s society we all deal with face to face on a daily bases, it is no shock to see friends and families shopping for the best deals they can find. Now with pure gold at its highest selling point in recent years, comes a sigh of relief and rejoice.
On average, the daily amount of gold being melted down and sold has risen to 60% in the last year alone. That number is expected to rise this month alone due to the recent spike. It kind of makes you realize that all the advice your father has given you in your life time actually ment something. “If you have the chance to buy anything pure gold for dirt cheap, DO IT.” If you took the advice and managed to stash away some gold coins, rings, watches and family heirlooms, you might be thinking to yourself :”Is today the day I part with my collection?”
While we do not recommend racing out to your nearest ” We Buy & Sell Jewelry” stores just yet. Here are some things to consider.
- Are these rates going to stay around for long?
- Are we ever going to see Pure Gold rise to or above $1,880 (U.S.) ever again?
- Should I sell all my gold now and invest in Bonds?
The answers are yet to be determined. Recent emails received by staff members of Valley West Mortgage have stated that more investors are jumping ships from riskier assets of stock to less risky assets of Gold and Bond. Despite the S&P downgrade of US debt, US government-guaranteed bonds, including mortgage-backed securities (MBS), have been a primary safe haven for investors. During the week, 10-yr Treasury yields reached a low below 2.00% for the first time since 1945, and MBS prices climbed to new highs. At these levels, though, it may be difficult for yields to move much lower.