[Jewelry making - Article 00486] - Re: [Orchid] Rising Costs Of Precious Metals

[Jay Whaley]

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    If you talk with your local coin dealer, who deals in precious meal
    metals on a daily basis, he/she will tell you that gold and silver
    prices are very closely tied to the economy. When investors are
    queasy about the economy, they buy gold and silver, which represents
    a tangible, rather than abstract value to them. My local dealer tells
    me that when the economy sucks, his business is just great, thank
    you. Lots of customers buying gold and silver, and many selling
    theirs to the dealer to pay their bills, unfortunately. 

    Our government, through our media, seeks to reassure us that the
    economy is "steadily improving", that everything is just great. Could
    it be that we don't exactly feel that in our personal lives or
    businesses? Obviously, neither do the investors. So the investors are
    buying gold, and that, I believe, is forcing the prices upward. When
    the economy really starts to improve, gold as an investment will not
    look so hot as an investment, and investors will start investing in
    other faster growth alternatives. Gold and silver should almost
    certainly start coming down in price. 

Jay Whaley

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