If there is one thing that investors have learnt over the year is that nothing is certain. You don’t have to be an investment guru to know that, 2008 wasn’t so long ago and the world is still reeling from what happened then. Whilst things might have changed, and some would say we’ve managed to dodge what could have been the worst economic time, others think that we are heading for rougher waters that would rival what happened in 2008. The sad thing is that we have become our own worst enemy. How? By not calling out leaders for their dubious policies and by acting like we live in bubbles,separated from the rest of the real world.
When a country’s leader comes out with a strong rhetoric about immigration, or decides to flex powers by imposing trade tariffs against one country at the detriment of his own country, markets tumble. It’s easy to feel overwhelmed by what’s going on economically around the world and harder to find a source of quick cash when the unexpected happens. However, selling your gold can help get you out of the financial hole you especially when banks are reluctant to lend you money.
Gold is resilient. In times of economic crisis gold can provide protection. The price of gold tends to go up when everything else is in crisis. When the dotcom bubble in the late 90s burst, the price of gold soared as it did when the housing bubble of 2008 burst. The sudden bold of gold buyers is not unique to Australian, it has happened before and is happening around the rest of the world.
If you have gold and would like to cash in, keep an eye on the spot price. Over the last three years, the price of gold has managed to go from $1200 an ounce to $1,500 an ounce. The upward trend is expected to continue especially with the geopolitical tensions and economic issues that certain countries have experienced. Analysts were predicting that gold would reach the $1,600 mark at the end of the year, now that we are at that point predictions have gone up too.
Economic researchers and analysts believe that the demand for gold will be further supported by the following trends: depreciation of currencies, inflation, stock-market valuations that are inflated, the long term economic growth of the Asian markets, growing political tensions and the reduction in the gold mining supply. According to the WGC, even though the supply of gold from mining is dwindling, the demand has been going up since 2007. If you have gold (even if it’s a couple of choice pieces in your jewellery box) and money is a little tight at the moment, you can sell your gold for great returns. There are gold buyers virtually everywhere these days. You can even find a lot of them online or in a physical shop usually around the jewellery part of town. Online gold buyers can make the whole process of selling or buying gold easy and convenient with their mail pack service. Instead of having to physically go to different local buyers to get a good price, you can phone around and get multiple quotes from various goldbuyers without having to leave home. There are a number of online gold buyers you can sell your gold to or you can drive into town for the face to face visit. Let’s face it, nowadays people buy things from the internet, so it is only logical that gold buyers would turn to online portals to buy their gold from the public.
For the best experience, perform proper diligence on the companies that are out in cyberspace. Do some research on the reputation and reliability of the company. Don’t rely on customer testimonials posted on websites, most of the times these are outdated or made up.
Most online gold buyers will charge extra for express services for quick turnaround and hassle free service. They may also charge transaction fees. It is important that you understand.