Over the last ten years, the United States Economy along with the World’s has been shaky at best. With rising inflation an immediate concern in the new year, gold prices seem to be rising steadily and may continue that way. Experts are saying that gold is a solid investment to hedge against inflation. There are many commercials on television and radio trying to get those of us who are struggling to trade in their gold jewelry or collectables in exchange for cash. These shady advertisements don’t even tell you how much cash they are going to give you for your gold and silver jewelry. They know many people are desperate to earn a quick dollar so they under pay severely for the gold. They have become the used car dealers of gold, flipping gold as if they were old lemons that will just drive off the parking lot. These people are preying on the people who may be struggling to pay their rent or feed their children. Many of these places are simply going to hold on to your jewelry until they rise in value, selling them to make a profit. Do not be fooled by the upbeat nature of the ads and how they tell you that you are getting twenty percent more for your gold. They are simply ripping you off.
This shows how much our economy is really struggling. Gold has increased in value for the previous ten years in a row. To the untrained eye, this might seem like a good thing since all those gold necklaces you own is increasing in value every year. But the truth is, rising gold prices only means that people are simply losing faith in our currency. It means that the only thing safe to invest in is something solid and unchanging. The dollar fluctuates a lot these days and it’s an unsafe bet for the future. Gold is a tangible asset that people can see; therefore it has become the investment of choice for many people trying to avoid this time of economic uncertainty.
United States Administration is only prolonging this type of growth with its decisions. By continuing to make other investments riskier and riskier, gold will continue to rise in popularity. So unless you and your family must sell those extra gold chains laying around in your jewelry boxes, I would hold on to them because they will continue to grow in value for at least the next year.