Just as it starts to get a chill in the air, and supermarkets are putting out pumpkins we realize that the gift giving holiday season is almost upon us. With gold topping out in 1,600 dollar per ounce recently many Americans are digging in the back of their closets for unused gold and silver to sell to cover expenses, catch up on bills, or save for a special gift for the holiday season.
With many Americans struggling to cover underwater mortgages, education costs, or even little extra luxuries, it has become time to see what precious metals or gemstones can be turned into liquid assets and cold hard cash.
Families in the United States are facing stagnant wages and an ongoing “double-dip” recession. Looking around the home for broken gold jewelry, silver serving ware, old gold wedding or engagement rings can be just the thing to bring in extra money right before the holidays.
So, as the holidays approach it is out with the old and in with the new. Selling unwanted or unneeded precious metals or gemstones can be a huge relief for families who need an extra influx of cash at the end of the year.
Why sell gold right now? Here are a few key reasons:
1) Gold prices have slipped slightly from when they peaked at over 1,900 dollars an ounce. In case of a selloff, now is the time to make the most off of your gold.
2) Two major holidays are looming internationally: Diwalla and Chinese New Year. Both India and China have a huge consumer appetite for gold!
3) Foreign governments are buying gold to decrease their exposure to the American dollar. There is a huge opportunity in trading for gold.
4) The electronics and medical industry both need gold for high tech parts.
5) In times of confusion and turmoil, the wealthy look to store gold as a hedge against currency devaluation and inflation.