With stubbornly high unemployment and a bearish outlook on the economy, people everywhere are looking for alternative ways to make income. Prices for commodities, like gold, silver, copper, and nickel, have been at record highs, making precious metals an attractive way to earn a buck, beyond just investments. In fact, economists expect gold to near the end of a decade-long bull run later this year, so gold value should continue on its upward trajectory.
So how does the average person cash in on this? Gold scrap from unused jewelry and gold coins can usually fetch a hefty sum. Unfortunately, with so many people trying to unload their gold and just as many scam artists trying to undercut these naïve sellers, it can be tough to get what you deserve. In economic terms, the market is flooded with sellers, and there is low consumer demand in the United States, both of which can often push down the price. With the gold value calculator, you find out what your gold is worth based on current rates, which are nearly $1,700 per ounce. Just plug in the weight and karats of your items, and the calculator will do all the work for you!
Gold hit a record high of $1,920 last September. Analysts predict gold will pass $2,000 later this year or in early 2013. Every investor should consider diversifying his portfolio with gold or other metal commodities.
But why is gold so valuable? Throughout the history of mankind, gold has been valued for its shiny metallic luster and durability, making it an ideal store of monetary value. Gold coins have been the official currency in countries around the globe. It was only in the 1930’s that America went off the gold standard under the presidency of FDR in response to the economic pressures of the Great Depression.
The idea of returning to the gold standard has become a popular theme for politicians like Ron Paul, Herman Cain, and Newt Gingrich. These politicians hope to force governments to be more fiscally responsible by halting its careless printing of money. With so many prominent Republicans touting the value of gold, it’s obvious the precious metal has investment potential. Use the gold value calculator to know what your gold is worth today!