The news is reporting that unemployment is down 5.4% and the ADP employment numbers and ten year returns are up. Consequently, we watched gold drop $40 and that seems like a lot. Does that mean this is no longer a good time to sell your gold?
Don't get me wrong, $40 is a good chunk of change; but with gold being over $1800, that's only a little more than a 2% drop. Until Covid, gold reached its all time high at about $1900/toz. Today's price is only 7% lower than that. Moreover, in 1999, gold was only $300 an ounce, so if you've had your jewelry since then, you're looking at a 83% increase even at today's price of "only" $1764/toz.
So don't let the media keep scaring you about the price of gold. It's still a great time to sell old, unwanted or broken jewelry.
Gold and silver continue to attract attention as investors seek stability during uncertain economic times. Silver’s role in technology and renewable energy has also kept demand elevated, adding another layer of support to current prices. Meanwhile, the physical buying side of the market is under strain. High volumes of incoming material have filled refineries and […]
