Gold and Silver nearing 10-year Highs, is it a good time to sell?
Gold and Silver near 10 year Highs is it a good time to sell?
Gold and Silver prices are near all time high’s, this is leading many to ask the question: It now the time to sell? The answer is both yes and no.
The case for yes Sell. Since the metal prices are reaching near highs it is a good time to capitalize on your gain if you picked up your collection at lower prices. As we all know the market fluctuates and often when the prices reach their high’s they fall shortly thereafter. There is what is known as a price ceiling and resistance levels, these things tend to keep the prices from simply going in one direction. Also due to the recent extreme stock market volatility during the covid crisis, many believe we are due for a second crash. If this occurs must like the first time in March many believe the masses will sell everything and thus gold and silver will fall significantly just like they did last time in what is know as a flight to cash. Also, if you are unemployed and need the cash, now may be a good time to get the most from your stored wealth in precious metals. As always, it may be a good idea depending on your holdings to hedge, thus sell some but not all your positions.
The case for no Hold. Many believe that since there is unprecedented printing of money by the federal government to support the economy and those in need, it will result in currency devaluation and rapid inflation. They believe these factors will cause precious metals to continue to rise. If you share these beliefs and have the means to hold on to your collection, you should keep your precious metals. If you are unsure, you can also hedge your bets by selling some but not all depending on your outlook and time sensitivity.
If you are interested in selling your gold or silver coins or bars many ask about the Best medium to sell your coins, gold and silver
Believe it or not, although it may take you little while to get it done, but the best medium (best being determined by highest prices) in which you can sell your gold or silver bars and coins is usually trusted online coin and gold and silver buyers. The reason being is that you can compare prices, and many provide a significantly higher payout than local dealers due to their cost savings of being an online company and not having costs like rent, office insurance, etc. You can determine the coins value and understand the spot price and get offers in a non-pressured environment. Simply get a few offers and see which is the best. Then do some research to see the reviews on independent 3rd party sources like google and trust pilot.
CashforCoins.net A leading Nationwide coin buyer, they are only a buyer and do not sell coins. Have a few nice free tools on their site like free instant offers for coins, free nation wide database of local coin dealers and lots of coin news and articles
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