When to Buy and Sell Gold: Time Your Gold Party Right

Since the Great Recession the value of precious metals has skyrocketed. Gold especially has reached new peaks, even when inflation is factored in. The reasons for this are many, but one of the primary ones is gold's rarity - there's only so much gold in the world. If all the gold mined in the history of the earth were distributed equally to all of its residents, everyone would only receive 20 grams, less than an ounce.

Moreover, since the government continues to print dollars and drive inflation higher, it costs more dollars to buy the same amount of gold. In this way, gold is much like a stock - it is a safer way to store your money than to keep it sitting in the bank, eroding through inflation. Gold is so safe to invest in that it is regularly bought in times of currency failure, burgeoning national debt, and market declines, as well as during periods of social unrest.

At present the prices of gold and silver are at some of their highest ever. The last time gold prices were so high was in the early 1980s at the close of the stagflation era. Interest rates are generally related to the price of gold. When interest rates rise, the gold price typically falls. Inversely, when interest rates dip, as they have done of late, gold will rise in price. As a result it is possible to track the price of gold via the monetary policy of central banks.

Much of the world's gold goes to jewelry. If you have old jewelry that you don't wear anymore, you may find yourself with a windfall. Gathering up your own gold can be valuable, but you can also host a gold party by inviting your friends to sell their gold at your home. Certain companies will offer you a cash percentage of the gold you're able to pool by telling your friends and hosting a gold party.

As China seeks to diversify and broaden its holdings of precious metals, you can expect gold and silver to rise even higher over the course of this year. Moreover, the weakening dollar augurs a similar bump in precious metals prices. And Ben Bernanke's muted interest rates amid economic recovery point yet another finger at a climbing gold value. So if you want to invest in gold and silver, now may be the right time. And if you want to sell your gold by hosting a gold party, it's time to start planning. You don't want to wait too long only to watch the bubble burst.

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