Beware of Letting Time Run Out Before Buying Gold
Gold hangs around the $1600 an ounce level for yet another day. Just as it looks like lifting off so it loses any impetus and drops back. It is suffering from the summer blues just as it has for so many years. We take encouragement from its continuing steady support at $1600 and believe that before the end of August we will have seen the last chance to buy at around this level before it breaks out strongly to the upside.
Technically the gold price has been in an ascending triangle which signals a rise as it fights its way out which it just about has. The fundamentals continue to add up to an ever strengthening argument in favor of gold as more rounds of quantative easing, or whatever it may next be called, are expected from both the US and Europe.
Carrying on printing money not backed by any assets can only lead to the continuing devaluation of the currencies and eventual hyper inflation even though a short period of deflation is likely to occur.
There simply is no other practical alternative to protecting your wealth in the current circumstances than investing in gold. Beware of letting time run out at this price level before buying into gold. This may be as good as it gets!
Category: Precious Metal Investment News
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Thanks for the information! I’ve been thinking about selling some gold jewelry in Denver to make some quick cash for my grandmother. One place I’ve considered looking is xxxxxx
Hi Walter
Sorry but we cannot endorse a dealer and suggest that you check out the best bids for your jewelry with other dealers in your accessible urban areas or even by mail. In other words dont accept the first offer you get. Bear in mind that gold jewelry is unlikely to be 99.9% gold, it will be 22 carat down to 9 carat so you may think that the price you are quoted bears no relation to the daily and changing quoted price of 99.9% pure gold. On top of this will be the scrap buyers margins to take into account. Be warned that there are some very unreliable gold scrap dealers operating so you will have to have your wits about when trading.
At this time we are expecting gold to see a substantial rise over the next 6-12 months so, unless you have no choice, try to hang on til next year or just sell enough to meet your grandmother’s immediate needs.
Hope this answers your problem.
Great information, also.. Avoid checking on your stocks every day.
Making wise stock market investments not only requires company research, it also requires you to maintain a good degree
of emotional distance. By nature, the stock market moves up
and down. If you let yourself get caught up in every rise and fall, you will soon become emotionally exhausted.
Additionally, investing for the long run will bring more rewards
than short-term strategies or day trading, unless
you are a very experienced stock trader.