Here at Joe's Gold and Silver in Beverly Hills our customers always ask us the same question:
"Do you think Gold will go higher?"
While we expect gold to increase in value over the long term, there's no way we can predict the day to day fluctuations in the precious metals market. That being said, we do recommend that people allocate some of their free money into a balanced precious metals portfolio that consists of Gold, Silver and Platinum. Now does that mean you should hold on to your Gold, Silver and Platinum Jewelry and Silver Flatware? No! In fact, for those who are looking to remain invested in precious metals, we recommend that they sell their "scrap" Jewelry and Flatware, and re-invest the proceeds into Precious Metals Bullion.
What's the diffence? You may ask...Well, for starters, your gold jewelry is not made of pure gold. The spot price you hear and read in the news everyday is for 1 Troy Ounce of Pure .999 Gold. In America the majority of Gold Jewelry consists of 14 Karat Gold. That means, 55% gold, and the remainder in base metals, such as copper, nickel and/or brass. A more reliable way to enjoy the increase in gold prices is through the purchase of 1oz Gold Bullion, such as U.S. Gold Eagles, which are minted yearly by the United States Government. This is why we recommend people who are waiting for higher gold prices to sell their gold jewelry and take the proceeds (we pay cash!) and re-invest into 1oz Pure Gold Bullion.
"Do you think Gold will go higher?"
While we expect gold to increase in value over the long term, there's no way we can predict the day to day fluctuations in the precious metals market. That being said, we do recommend that people allocate some of their free money into a balanced precious metals portfolio that consists of Gold, Silver and Platinum. Now does that mean you should hold on to your Gold, Silver and Platinum Jewelry and Silver Flatware? No! In fact, for those who are looking to remain invested in precious metals, we recommend that they sell their "scrap" Jewelry and Flatware, and re-invest the proceeds into Precious Metals Bullion.
What's the diffence? You may ask...Well, for starters, your gold jewelry is not made of pure gold. The spot price you hear and read in the news everyday is for 1 Troy Ounce of Pure .999 Gold. In America the majority of Gold Jewelry consists of 14 Karat Gold. That means, 55% gold, and the remainder in base metals, such as copper, nickel and/or brass. A more reliable way to enjoy the increase in gold prices is through the purchase of 1oz Gold Bullion, such as U.S. Gold Eagles, which are minted yearly by the United States Government. This is why we recommend people who are waiting for higher gold prices to sell their gold jewelry and take the proceeds (we pay cash!) and re-invest into 1oz Pure Gold Bullion.
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