Gold prices have steadily increased in the past couple of years. Ask anyone who studies economics, finance or investing about gold and he will likely testify that the price of this precious metal has skyrocketed at an unprecedented rate in the recent past. In fact, many such experts advise to sell gold jewellery and other gold items right now in order to capitalize on the high price.
Gold Recently Reached a One-Month High
The failure of President Donald Trump’s healthcare bill helped gold reach a one-month high. “Risk assets” initially surged after Trump’s election and his promises of massive deregulation as well as a trillion dollars’ worth of infrastructure spending. However, doubts have crept in and plenty of money has moved to safe havens like gold and other precious metals. Substantial amounts of money have gradually moved away from equities toward gold, commodities and bonds. Gold has always been inversely correlated to currency, especially the American dollar. The dollar hasn’t exactly been bolstered in the manner that Trump promised. These developments have spurred considerable increases in the prices of precious metals and other low-risk investments like gold.
Gold has historically performed best when fears of inflation abound. However, the precious metal has done quite well in the recent past, a period of time that has not been plagued by inflation concerns. Plenty of people consider the stock market to be overvalued and risky. This is a large part of the reason for the massive migration of money to gold and other safe havens. The question is whether gold will continue to rise, stagnate or fall. Those who own gold can guarantee a profit by selling now.
Own Gold? Now is a Good Time to Sell
If you possess gold jewellery, gold coins, gold bullion, scrap gold or anything else with gold, today might be the best time to sell. The precious metal’s price has gradually ticked up to the point that most of those who own gold can sell right now for quite the tidy profit. If gold represents more than two percent of your portfolio, you should definitely consider selling. Most investment gurus advise diversifying assets as much as possible. Sell some of your gold, invest the proceeds in other avenues and you just might exponentially boost your profit in due time. This is true for owners of new, old and broken gold jewellery, scrap gold of any variety, gold trinkets and so on.
Though it is certainly possible that gold continues to rise in value, there is also the chance that the price of the precious metal will drop. Why not take some profits off the table right now while you have the chance? You can always reinvest in gold in the future when circumstances dictate it to be prudent. Sell your gold today, use the cash to enjoy life or invest in something else you have your eye on and there is a good chance that you will have timed the market to perfection.
Take Advantage of High Gold Prices by Selling to Gold Smart
Today’s high gold prices are an excellent opportunity for you to cash out with a bundle of money. Sell your gold jewellery, gold coins, gold bullion and other gold pieces to Gold Smart today for an immediate payout. You can drop on in to our brick-and-mortar location or mail in your gold piece(s) for an assessment. Reach out to us today to learn more about our gold buying initiatives.