Precious metals such as gold, silver, and platinum have always been viewed as sound investments because they tend to either sustain or increase their value. Historically, there has been an inverse relationship between the price of precious metals and the value of the U.S. dollar. So far this summer, the value of the dollar has fallen slightly as the price of gold has risen. If you have gold coins or bullion that you have considered selling, now is a great time to sell while the price is high. Many market experts predict that the price of gold will continue to increase into the month of August, so pay close attention to the gold market if you have gold bullion or coins to sell.
Over the month of July, gold in particular has increased in value as the value of the U.S. dollar fell, and future projections show that the price of gold will continue to rise. The price of gold is generally between $1,200 and $1,300 per ounce, and as of July 28, the gold price per ounce was at $1,265 and appeared to still be climbing. In fact, some experts such as Michael Shaoul, CEO of Marketfield Asset Management, believe that the price of gold could soon reach $1,300 per ounce. With the U.S. dollar losing 10 percent more of its value in 2017 than the euro, gold prices could reach or even exceed this amount.
The gold market is currently a seller’s market which means that you can cash in on your gold coins and bullion at a great price. Whether you have been collecting gold coins or bullion, or have gold jewelry that you no longer want, you should look to sell your gold while the prices are still high. It is tough to predict exactly when the price of gold will start to come back down and if you hold on to your gold for too long, you can miss out on the best price. If you are not sure of the best move to make with your gold, you can talk to a professional gold buyer about your options.
Cash for Gold in Chicagoland
Our professional gold buyers at PGS Gold & Coin are gold market experts that can provide an accurate and honest appraisal for your gold coins, jewelry, or bullion based on current market conditions. Our appraisal process is fast and simple so we can offer you cash for your gold on the spot. We have long been one of the most trusted gold buyers in the Chicago suburbs and many collectors and investors continue to work with us because we routinely offer the most competitive prices. You can visit our store in Wheaton, Palatine or our brand new PGS Gold & Coin location in Schaumburg, IL to get an appraisal for your gold coins, bullion, or jewelry within minutes.