What are the Factors Driving Gold Prices to All Time Highs?
Cash for Gold Orange County, a regional precious metals dealer in Southern California, is now offering top dollar for gold jewelry and bullion, as gold prices have soared to an all-time high of over $1500.
As the dollar bill continues to fall in value, gold is a sure win for those wanting to hedge against its potency. This is a common investing practice in economies with fiat currencies that are easily affected by increasing national debts, inflation and social unrest. Hedge funds across the nation are now purchasing precious metals for their portfolios, inspiring the constant demand for gold.
“Wall street is definitely playing a huge role in the price of gold,” said Paul Altieri, CEO of Cash for Gold Orange County. “As long as hedge fund managers continue rail against the dollar, the price will continue to rise. Likewise, if they begin to sell gold, prices can quickly fall.”
Additionally, Altieri recognizes that, “it is possible the US government is purposefully deflating the dollar bill gradually to slowly boost the economy and help repay the trillions of dollars in debt owed to sovereign nations. The government most certainly won’t admit this strategy, but it does make some sense.” There is no certain proof of this suggestion; however, looking back at the economic crisis in the 1980’s and the dramatic increase in the price of gold in those years, it is highly probable that the government has played a role multiple times.
Cash for Gold invites all jewelry, watch and bullion owners to sell gold while prices are hot. Interested parties can visit their Huntington Beach, California location today at: 15182 Goldenwest Street, Suite 100.
“We buy gold and immediately pay top dollar for quality pieces,” says Altieri. “The process is quite simple and our representatives are highly knowledgeable gold buyers with 30 years of combined experience.”
All gold sellers are provided free appraisals and be can confident they will receive the most money possible. Generally, most items are valued based on the karat and weight of the piece. To determine the karat of the gold, Cash for Gold precious metal experts will locate the stamp that indicates karat weight. In the case that there isn’t a stamp, the expert will perform an acid/scratch test to determine the piece’s weight.
In addition to gold, the Cash for Gold also purchases silver, platinum and other precious metals. For more information, visit their website at http://www.cashforgoldorangecounty.com/, visit the Huntington Beach location, or call their offices at (714) 901-8000.