More people have been selling their gold jewelry in the past year, many to cover expenses, others to just to take advantage of record high prices. Prices have dipped a bit from their recent highs, but expect more people to sell in the months ahead, and expect the prices to rise again.
Gold prices are up again, and floating near an all-time high: That means bad news for the overall economy, but good news if you have unwanted jewelry and want to cash in. But be careful: It's also a good time to get cheated. DailyFinance explains how to get the best price for your gold.
Gold has had a magnificent run during the past 10 years, doubling in value since 2008 alone, and gold mania is seemingly still at full strength. But is profit taking the next move? What if you are among the majority of investors who have yet to dip a toe into the water? Is it safe to dive in?
The uncertain economy, high unemployment and soaring gold prices are luring droves of dreamers to the gold fields. But while few prospectors will hit paydirt, the biggest beneficiaries of the new gold rush will be the merchants and servicers who support the intrepid ore-hunters.
Gold prices reached a record high today as the Bank of Japan cut interest rates and many countries indicated that they may boost currency liquidity, Reuters reported.
Recent reports show that several banks have begun advising their wealthiest individual clients to put as much as 10% of their assets into the precious metal. And some are stocking up by the ton.
Gold prices reached a record $1,308.90 an ounce Tuesday after earlier price declines and continued low interest rates spurred investors to buy bullion. Gold, which earlier had its biggest intraday decrease in more than two months, reached a record high for the eighth time in two weeks.
Gold prices briefly crossed $1,260 an ounce in Friday morning trading on the Comex division of the New York Mercantile Exchange. Gold futures for August delivery, the most heavily traded contract, rose as much as $12.20 to $1,260.90 before paring gains. On Thursday, gold closed at $1,248.70 and ounce, a new nominal closing high on the Comex.
