The price of gold is soaring. In large part, this is being fuelled by inflation, which has reared its ugly head.
If you own gold that you would like to convert to dollars, now is a good time. Check out the current value that you can get for your gold at gold trader Springfield MA.
Inflation, Domestic Politics and Geopolitical Mayhem
The upward surge in the gold price has been propelled by several trends:
- Inflation: Over the last year prices for most goods and services have skyrocketed upwards; meanwhile, the Federal Reserve indicates that this situation is only ‘temporary’
- Domestic Politics: The administration is bungling many attempts to quell inflation and the trillion-dollar spending packages rammed through Congress are only adding fuel gold’s price rise
- Geopolitical Fears: Tensions between the United States and China are soaring; Russia remains a stealth player on the global scene, and the Middle East is a tinderbox
The common denominator behind each of these factors is fear and uncertainty. People are concerned and uneasy. This causes the common person to seek the safe haven of gold and other precious metals. Thus, the price of gold is sky-high.
Why Not Sell Your Gold?
The old adage rings true: “Buy low, sell high”. The gold price is high; so it may be time to sell. If you own gold, you are now in a position to carry out the second part of that sage advice.
You may think that you need to bring gold bars, gold nuggets, or old gold coins to a gold trader to sell. Yes, these are all valuable, but you may also have some other, more common household forms of gold in your possession. For example, old broken gold rings and other gold or silver jewelry can be sold for high prices now.