When the economy gets tough investors buy gold. In the last couple of months gold dealers have sold so much gold, there is little of it left in their inventory. People have always been willing to pay more for gold coins that any other gold product sold in the gold spot market. In the last couple of weeks, the price has doubled and in some cases quadrupled as investors become desperate to hedge against the current economic crisis.
Most Brisbane gold brokers and virtually any gold dealer in the world speak of the overwhelming demand for gold with not many sellers. The price of gold coins, especially hasn’t been this high in so long. Orders are backed up by weeks. For investors looking for the best time to cash in, there has never been a better time in recent history for selling gold than now when demand is high and supply is low. Most dealers, refineries and mints are either low on stock or they have stopped taking orders because they out of stock.
Before this current global crisis gold had already been in its fifth year in the bull market and economists were predicting good things for the gold price. The global outbreak of COVID-19 has altered the outlook for the one investment asset that is used as a refuge against the debasement of fiat currencies. Now central banks have to fire up their printing to ease the disastrous effects of economic shutdown. Printing more money is never a good solution because it causes hyperinflation and undermines the value of currencies in the long run. Economists believe that we are in a buyer’s market and the will continue to rise for the rest of the year.
If you have American gold Eagle coins to sell now might be the time to sell to gold buyers Brisbane, you’ll find that they are so desperate for gold right now, they have upped their buy back pricing on all gold bullion products. You can also sell them other gold items at a premium such as gold jewellery.
Gold is shining and everyone is taking notice of this precious metal. Those who bought gold as an investment years ago might yet live to see the yellow metal becoming more important and useful than any other commodity – including oil. The price of gold has gone up by almost 25% since the beginning of 2019. In the first four months of this year, the price had already gone up by 10%. What’s going to happen in the next 8 months is subject to debate but the general consensus is that it will go ever higher. Whether gold will reach $2,000/oz is not a question of how but more of when. If you have gold to sell, right now is the best time to do so to get cash you might need or you can wait it out. Many economists believe we haven’t reached the peak of the current crises yet which means anything is possible.