Is Now the Time to Sell Your Gold?

Recycle Precious MetalsRecycle and Refine GoldPrecious Metals Investing
Written By Barry Lenson

On July 27, just one week ago, we wrote on this blog, “Gold is trading for $1,900.90 on the London Fix. Just to put that price in context, let us mention that the all-time historical high trading prices for gold is $1,920. We are in stratospheric territory.”

And here we are a week later, and gold is trading at $1,968.30. Records are falling, there is no doubt. And lots of analysts are predicting that we haven’t yet seen the top of the market. Gold prices could continue to rise, due to factors like:

  • Demand (suddenly people are buying gold instead of stocks)

  • The instability of foreign trade (our government seems to be relishing the idea that we should limit trade with China, or impose higher tariffs, or both)

  • The historical belief that gold is the best investment in uncertain times (many companies are in trouble in the current recession)

All that volatility is leading people – maybe you? – to ask a lot of questions about gold. If you don’t own gold now, for example, should you invest in it now? If you do own gold, should you sell it now and take your profit, or wait in case prices increase further?

Questions, Questions . . .

Those are questions that people are asking right now about investing in gold. Are you asking them too? And if you are, how are you going to answer them?

We don’t mean to ask even more questions, but here are some issues to consider as you decide:

  • How much money will you make if you sell your gold now, or have us recycle your gold?

  • How much do you need the money you will make?

  • Do you genuinely believe, for reasons you can explain, that the value of gold has reached its peak?

  • If you sell your gold now and later find that its trading price rose even further, will that trouble you, or will you simply be happy with the profits you made?

  • What percentage of your total investments are now in gold – and what investment vehicles make up the rest of your holdings?

  • Is your overall investment strategy to turn over your investments frequently and make profits, or to build a portfolio of holdings that you will have for the long term?

And What Kind of Gold Do You Own?

Also consider the kind of gold you own, before you decide whether to sell, hold or buy gold. If you own gold coins of bullion, for example, its value is directly tied to current trading prices. If you own scrap that needs to be tested and refined before you know how much it is worth, that is another question (plus, you could make more money that you expected to make from your investment).

If those are the questions you have been asking, we have answers! Why not give our precious metal refiners a call to day at 800-426-2344? We are here to answer questions about your silver scrap, gold scrap, and platinum scrap too.

Barry Lenson
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