Gold prices have been on a tear of late. It has been and continues to rise. It may be a good time to take advantage of these high prices.
Perhaps you have some gold and are interested in selling some at these excellent prices. Consider doing business with a gold trader Springfield MA.
Gold: Price is Rising
The price of gold has surged to lofty levels this year. In January 2022 it had surpassed $2000/oz. Compare this to the price in the year 2000: It was then hovering in the $250/oz. range. Goldman Sachs, the influential financial house, believes that gold will hit $2,500/oz. by year-end 2022.
What’s Causing the Gold Price To Rise?
Over the centuries, gold has always been a storehouse of value. In uncertain times, people own gold. And the times are uncertain indeed. Look at what is going on: Russia has invaded Ukraine, inflation is rampant, and politicians are blaming everyone but themselves.
Let’s look specifically at inflation. When prices rise at a fast pace across the board, it is referred to as inflation, which simply means that your dollars don’t have the purchasing power they used to.
The Consumer Price Index (CPI), one common measure of inflation, is up to levels not seen since the 1980s. The Federal Reserve has its hands tied. Some pundits believe that no matter what the Fed does with interest rates, the US monetary policymakers are not going to get inflation under control.
Sell Your Gold When Prices Are High
Remember the old adage, “Buy low and sell high”. Now the price of gold is high. Now is the time to sell and get top dollar for your gold coins, bullion, rigs, or other jewelry.
If you own gold or other precious metals, you can combat inflation by bringing in more dollars. Take advantage of these high prices and sell your gold today.