Gold is a precious metal that is used in coins, jewelry, and art. It
has always been a fascination for the general public because of its
glittery appearance and high value/weight ratio. In general, gold has
always been a highly priced commodity.
Although the price of
gold does fluctuate a bit, it has been increasing steadily over the last
several years. In the year 2000, the price of gold was a little less
than $300 per ounce. Today, the price of gold is a little less than
$1,000. History has shown us that the price of gold goes up during tough
economic times. In fact, according to financial analysts, the markets
are indicating a reduction in demand for the dollar and further strength
in gold prices.
Historically, the monetary units of countries
were defined in gold. This is still true in the US, where a monetary
unit is expressed as the number of units of gold per currency. In
developing countries, gold is stored by people who distrust government
currency, bank money, and bonds due to the instability of their
economies.
In the past, gold prices in the US were fixed. For
many decades, an ounce of gold was priced at $20.67. By 1975, the price
of gold in the US was allowed to fluctuate. The price of gold has always
been high because gold is rare and is the most stable of commodities.
During the recession, the demand for gold has boosted because of worries
about inflation.
So what does the historical value of gold have
to do with you selling gold? Considering how the value of gold has gone
up substantially in the last several years, there is no better time
than now to sell your unwanted gold. If you have a jewelry box full of
old jewelry that you never use or scrap gold that you don’t know what to
do with, selling your gold for cash is an option that’s available to
you. You may be surprised by all of the jewelry you find when you take a
look through your belongings. If you don’t have any use for it, you
may as well sell it and make some extra cash. Otherwise, it will just
sit around collecting dust.
Whether your mom gave you some of
your grandma’s old jewelry and you want to make some money with it or
you want to get rid of all the jewelry your ex bought you so you can
move on, selling your gold is a great way to make some extra money
during the recession. We could all use some side income considering the
current state of the economy and selling gold is one of the easiest and
most lucrative ways to do so.
