“You used to seem a little crazy to put your money into silver or gold,” he says.
Now, it’s a way to diversify your portfolio, and one of the key pieces of Doylestown Gold Exchange’s business.
And these days, more and more people are looking to invest in gold and silver. The price of both metals has gone up significantly in recent weeks. Gold has gone from $1000 an ounce to more than $1200 an ounce, while silver’s price has jumped from $13 an ounce to $17 an ounce.
The fact that 2016 is an election year could be driving people to invest in gold. Historically, presidential elections cause the price of gold to fluctuate.
The price of gold went up eight percent in 2004 after George W. Bush won a second term, and rose by whopping 21 percent when Barack Obama became president in 2008. Those gains followed big drops in gold prices in 2004 and 2008, when gold prices dropped close to $200 an ounce during the last two weeks of October.
These fluctuations may be nothing more than the result of a long period of uncertainty followed by a return to stability.
No matter the cause, it’s been a busy season for Doylestown Gold Exchange.
“People are investing in silver because it’s basically a preservation of their wealth,” Glemser says.
And that’s an important point to keep in mind: You invest in precious metals as a way to preserve wealth, rather than to make more money.
Get Started with Precious Metal Investments
If you’re interested in precious metal investment, remember that potential buyers and sellers can track the price of gold, silver, platinum and palladium on the Dolyestown Gold Exchange website, which keeps a 24/7 watch on precious metal costs.
Doylestown Gold Exchange has been providing honest, reliable service to Bucks County gold and silver buyers for more than 20 years. Contact us today or stop in to our store to find out how a precious metal investment can work for you.