Jul 16, 2011 4:11 am
The debt ceiling is struggling to be raised higher, but they'll raise it. An American default would be catastrophic and would send the global markets into a tailspin. So you can look forward to some sort of solution before the August 2nd deadline.
But that means that after confidence in the American economy rises, the value of the dollar will too. Which means the value of precious metals such as silver will dip, which means that if you want to sell silver, you should do it now while you can get the best bang for your buck.
Because if you wait any longer to sell silver for cash your pockets won't be as full as they would be if the American economy struggles. Now you can always wait a little longer to see if the politicians will be unable to resolve the debt ceiling and then crisis will strike and you will be able to sell silver jewelry for great amounts of cash, but as I've said, that's unlikely because everyone knows how catastrophic that would be.
So go ahead and gather your silver together to prepare it for sale. Soon it will transform into piles of cash, because silver is hovering around $38 an ounce.