Aug 5, 2011 4:52 am
Forbes Magazine has been covering the current economic situation very closely. As of yesterday they shared the idea that the U.S. Federal Reserve Bank should consider selling some of its massive gold reserves. With the economy taking forever to recover, people have become used to the constant anxiety. However, this does not prevent the 'run on the bank' mentality shared by investors. It's believed that storing precious metals during an unstable economy is a bad thing. Those funds are not put into companies and working capital.
While gold is not currency, the U.S. dollar is suffering in value. Gold is a useful back-up. This gold could also be infused into markets to intervene run-away prices. Gold has helped the U.s. and international markets for decades. At this point in time the value of gold goes up. If you consider the prospects, selling gold in NYC now is wise. You want to get the best possible prices for your gold and silver jewelry. If gold does get released into the markets you can say goodbye to your opportunity.
NYC gold buyers are ready for you to come walking through their doors. They will buy, sell, and cosign gold. It's up to you to get what you can from your own personal reserves. In the same line of thinking as Forbes mentioned: storing gold does you no good in the present moment.