Price of Gold Tops $1500!
Posted by Mike McKee on Thu, Apr 21, 2011 @ 01:48 PM
Wow! Sustained pricing above the $1500 mark! We're excited to see that gold is taking on new highs. With the bull market in gold in a rush to move and stay above $1500 a Troy ounce, selling gold is the way to make some serious money. Gold buyers are seeing the tail of the release of consumer gold as so many people are selling gold in the retail buying marketplace. With so many gold buying shops set up, gold buyers are vying for consumers who are selling gold and selling gold jewelry. This makes for an opportune time to sell gold to gold buyers who are willing to compete for your business. Gold values have never been higher and we're suprised to see them at this level with the improving economy. However, gold values remain strong as demand continues to be strong.
Surprisingly, silver has become an active market as silver hit $40 an ounce. With much of the retail gold already on the move, gold sellers are moving to silver sales to generate money. That means that lots of silver jewelry, silver coins and silver bullion are quickly moving on the market. The price of gold seems to be pulling the price of silver along in the commodities market. Since there is no shortage of strength in the market, the price of gold and silver will keep moving in a positive direction.
Keep in mind, however, that the bubble will burst at some point, but demand continues to be strong for gold and silver. While the price of gold and silver continues to maintain, its a great opportunity to liquidate your gold and silver and to capitalize on the strength of the market. A lot of silver coins (any circulating US silver coin minted prior to 1964) and gold coins are finding their way out of coin collections and are generating excellent cash value for their owners. Strangely, the collecting value is far less than the scrap value of many of these silver coins at this pricing level.