If you have been paying attention to the local news as of late, or just looked out your car window at the multitude of “We Buy Gold” billboards, you know that something is going on with gold and silver. Over the past few years, the price of gold and silver has skyrocketed. The question is why?
The answer to this question comes in many different forms. It is a well known fact that investors have been buying precious metals as of late. They are doing this in the face of the ever declining value of the American dollar. The price for gold has actually doubled since we hit the recession. At this point, it is at an all time high. Silver has gone up as well. It has seen its highest price since the early 1980’s.
With government spending increasingly out of hand and unrest in the Middle East, investors are feeling more secure in putting their money into gold and silver that hold a higher value. Many feel that because of the continued printing of money while the country faces such enormous debt, it is inevitable that the US dollar will eventually collapse. However, gold and silver will still retain their worth.
There are those that feel that the bubble of the rising gold and silver prices will eventually burst. And though we have seen fluctuations in the prices, for the most part, they are still going up. It is thought that the price of gold will continue to rise because there is a relatively limited supply of the precious metal.
So, if you are not in the market for buying gold and silver, now might be a good time for you to go through all that old jewelry. You never know how much it might be worth!