Way back in 2008, financial advisers told their clients to bought gold for times were going to get tough. They may have been considered prophets of doom at that time but with the ever falling of the dollar, buying gold as advised seems to be the only solution that people have to fall back on.
Gold prices have reached $1853.14 as of this writing and despite what the President Obama claims, this is a sign that the investors are not having a cool time with their trust in the stocks, bonds and other currencies. The investors are putting where they know their money will be safe, and that is gold.
There are many ways to sell gold, the most popular these days is to buy gold online. Some do not buy gold at all, instead they opt to sell them for they need the cash that they can no longer access. The unemployment is plunging, the worth of the dollar is ridiculous and the rest of the world that relies on the US dollar are suffering alongside the Americans. What is ridiculous is that China seems to be in a better position than the US currently and what is even worse, they do not owe anyone money, instead, the US owes them.
The pawnbrokers are now purchasing gold, wherever they can access them. The investors are converting their investments and money into gold, where they know they can trust it to be. And where will this drive the gold prices, further up, unfortunately.
The thing is, people who can afford to purchase gold online or from other resources are those who have money set aside and can afford to make an investment. Unfortunately, these are only a lucky few while the rest of the population have no other recourse but to sell whatever form of gold they have in their possession.
Yes, it is true that purchasing gold is probably the only recession-proof investment one can make, if you have the money. Otherwise, you are stuck like the rest of us, selling off the gold in our jewelry boxes or in the banks so we can survive the recession, and unfortunately, it is just getting worse and worse. With the downgrading of the US from a triple A country to a double A, is it any wonder that the dollar is falling and continues to fall? Is it any wonder that the gold prices are steadily increasing by the day? If you have money set aside, yes, this is the time to buy. If you don’t, well, you know what to do.