The headlines are horrible: COVID-19 is having a “second” wave. Actually, did the first one ever end? The killing of George Floyd has led to widespread protests and even looting. So many people are out of work, and government stimulus funding is running out. The government is looking at reducing the extra unemployment benefits that… Read More »
Category: Buying & Selling Gold
Gold Hoarding, COVID-19, and the $2,000 Per Ounce Gold Mirage
The hair triggers are set. And this time, I’m not talking about guns. I’m talking about the gold hoarders. As a gold refiner, it is my privilege to talk to gold businesses every day. I’ve found that all over the country, people holding precious metals are waiting for “X” price before they sell. Lately, X… Read More »
Gold Buying And Gold Refining During COVID-19
COVID-19 IS IMPACTING EVERY FACET OF SOCIETY The novel coronavirus (COVID-19), a highly contagious acute respiratory disease, is spreading around the world. Many businesses are affected, including jewelers, pawnbrokers, and gold refiners. Moreover, as business conditions have become so uncertain, many financial markets have become highly volatile. This is especially true for gold, which recently… Read More »
How Long Will Gold Stay Above $1600 per Ounce?: A Gold Refiner’s Perspective
Gold Refiners Can Understand the Market but Not Predict It The price of gold just hit a seven-year high, and businesses that buy or use gold have a vested interest in knowing where this trend is heading next. No gold refiner — or anyone else — can predict the precise movements of any commodity market.… Read More »
Investing During Political Turmoil and Economic Uncertainty
The financial markets have entered a wild period of extremely high volatility in the final months of 2018. A rare “perfect storm” hit investors as stocks, commodities, and bonds all tumbled in unison for the first time in decades. The economic picture is confusing, as this downward spiral comes atypically in a time when unemployment… Read More »
Is Gold Forever Tarnished?
The Federal Trade Commission (FTC) has recently made some major changes to the FTC Jewelry Guides, lowering its standards about what may be sold as “gold jewelry”. Federal law generally prevents marketers from making unfair and deceptive claims about their products. The FTC guides provide instructions to the jewelry industry about what will and will… Read More »
Preparing for the Holidays in the Age of the Robots
With trick-or-treating still on the horizon, it is hard to believe that online retailers like Amazon are already starting to prepare for December’s holiday rush. As witches, vampires, and candied apples are filling the shelves of America’s convenience stores, legions of robots have invaded its warehouses and e-commerce fulfillment centers, the Wall Street Journal reports .… Read More »
Looking for someplace to put your money this Monday: Gold is it
Gold is at a 10 week high this Monday morning. September numbers for retail sales are in and they are disappointing. In addition, emerging market stocks are getting hammered. The volatility index for GOLD has been at a 10 as of late, but it is now at a 12. If you are looking for someplace… Read More »
Baby Boomers, Gold, and Taxes
I had a conversation with a relative of mine the other day who was asking about precious metals prices, he mentioned he has been “stockpiling” gold bars and coins for years. I got to thinking, if you are a Baby Boomer (like my Uncle) who bought gold back when he was about 25 years old in 1975… Read More »
The most common mistake people make when buying or selling precious metals and coins, and how it can cost you.
At least once a week at the refinery we come across someone who is unfamiliar with weighing gold or silver. We explain weights to them, and they understand, but there are unscrupulous people out there who do not explain and take full advantage of the confusion.
