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Selling Gold For Cash - Don't Jump in With Your Eyes Closed

"Archie Padbury" (2020-07-11)


Why Gold Looks More "Glittery" Nowadays?

Exactly as buying gold have their own staunch advocates, it has equally strong adversaries. Why? Because some feel and reason that gold too is susceptible to bubbles, giving the classic example of the 1980's, when it cost 850 dollars an oz, after which its cost plummeted coupled with not risen again more than twenty years. But what they don't appear to get noticable or deliberately ignore could be that the inflation was soaring at the time and everyone bought gold away from fear. The USSR's invasion of Afghanistan as well as the outbreak in the Islamic revolution in Iran were key factors within the sweeping political changes that made people confused and afraid. Therefore, they invested heavily in gold to guard themselves against just what it seemed a global crisis (nonetheless it wasn't).

When 18-karat is along with precious metals, they become relatively stronger allowing it to be molded into high-class jewelry. However, value of 18-karat is below that relating to 24-karat considering that the gold costs are dependent on the purity from the metal. When we mention platnium it implies how the purity linked to this metal is quite high whereas white gold only has palladium, silver or platinum.

The dollar is often at the top of their list, which is because our government has printed huge amounts of it. A fiat currency, because it is known, is often a paper currency which has no backing by any hard assets like gold or silver. It's just paper with ink. Many people have trouble comprehending the concept of inflation, as it's rarely looked as clearly as it must be.

It is reported by a well-known London gold trader that this gold cartel (purported to be an alliance of central banks, the important bullion banks, along with the US Government) has accumulated a huge unhedged short position in gold with all the intention of holding on the price. But there is not enough metal to pay the paper promises. He is the term for becoming a 'rigged' market. But the water is backing up up against the dam and the dam is becoming all-around bursting point.

Most of the people are of the opinion that oil prices also modify the prices of silver and gold coins. Definitely they actually do, but not inside a direct form but indirectly. This was seen in the event the prices of oil rose to $145 during 2007. However, this didn't have much effect on the prices of gold and silver. If the oil prices stay and never a 'spike' then they may have worldwide affect inflation which will cause gold and silver prices to increase. Also, when there is a switch of oil pricing from dollar on a vacation currency, you will have crisis and also this is what affects gold and silver prices.