Gold Prices Peak Again, Time to Buy or Sell?
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Commodity analyst said the downgrade of the U.S credit rating has led to an increase in the price of gold. “I think it’s just the speculation and uncertainty. What you had a month ago is probably worth a couple of hundred more since gold is at an all-time high,” said Brooke Crowder of Cummings Rare Coins. Financial experts said gold is a safe bet when other assets are unsteady. They said recently gold hit the biggest three day rally since 2008 at a record $1,778.30 an ounce. “I just decided instead of just letting it sit there, jewelry I haven’t worn in 15 years, I decided why not,” said customer, Carla Williams. Williams. “I walked in and was floored at how much actually the gold would bring.” Crowder said the myth only customers hard up for cash sell their gold is untrue. “Everybody is coming in because of the high prices not only because they’re hard up. We do see that too, but not just because they need the money, but because it’s at a record high,” said Crowder.
