Apr

10

The Great Gold Rush of 2009

Filed Under Making Extra Money 

This weekend, I attended a “gold party”; that is, a gathering at the home of a friend to both getgold-prospector together and chat, and relieve oneself of the burden of old gold — single earrings, old chains and the like — in exchange for cash.  My friend did some research and found a company that she believed was  reputable and would pay a fair amount.  I, who am torn at the moment between the wisdom of selling gold and buying gold, decided to visit and see what I could find out.

The gold buyers at the party were generally not communicative, although I usually have a gift for bringing people out of their shells.  All I could get  from them were the prices they were paying and that they were in a family business.  I tried to get their opinions on the future of gold prices, but they were giving up nothing.  

There is a lot of  debate going on these days about the price of gold.  A month ago it was at about $960/oz; today it’s closer to $860.  Some industry experts are predicting that it will continue to rise, up to an anticipated $1400 or $1500.    In my humble opinion, if there’s so much marketing going on for people to sell, sell, sell, it must be because these gold dealers think the price will continue to rise.  But that’s all a guess.  So, what do you do?  Buy or sell?  Depends on your circumstances.  At the party, I traded in some old broken jewelry, twisted chains, and gifts from ex-boyfriends (some of them were gold-filled or plated, go figure!) and got a check for some spending money.  A nice little perk, but nothing that’s going to change my life.   But, if you’re into the buying/investing mode, the advice I got (completely subjective) was to look at it only as a short term investment, since of course, what goes up…..

Here are a few resources I found on the internet with info on both buying and selling.  I do not vouch at all for their integrity nor the quality of their information.  Caveat Emptor.  

1) Click Here!

2) Click Here!

3) and yet another Buy gold online – quickly, safely and at low prices.

For info from the industry gold standard on gold (and other precious metals), visit www.Kitco.com.

Hmmm, I think today might be a good day to buy…

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Comments

4 Responses to “The Great Gold Rush of 2009”

  1. Allen Taylor on April 10th, 2009 10:30 am

    Nice writing. You are on my RSS reader now so I can read more from you down the road.

    Allen Taylor

  2. Frank on April 10th, 2009 3:08 pm

    Here is another http://www.makemoneywithgoldjewelry.com They sell a book on how to start and run a gold party business.

  3. Robin on April 11th, 2009 1:39 pm

    Thanks for your compliment Allen — it seems our topics are intertwined! Let me know if I can get you any information.

  4. Robin on April 11th, 2009 1:40 pm

    Thanks Frank! I see that you’re pretty well-versed on the subject of gold. What’s your opinion — buy or sell?

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