Gold prices are not setting new records, but they are not going downward, are they? The precious metal closed the week at $1049.20. It is obviously a difficult time in the economy; the recession may be over and signs of recovery being seen (at least according to Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner), but to many Americans, it doesn’t feel like a recovery is underway.
Personally, I am still feeling a bit chilled. Unemployment levels have hit 20 year record levels, the market is still jittery and easily spooked, and in talking to those around me, I see unhappiness in their eyes. The latest painful new number is that there are at least six applicants for every job available. When you consider that some of those jobs are high paying and others extremely low paying, the chances of any applicant getting what they were accustomed to can seem very bleak.
But I am determined to feel better about the future of our economy. I see from various indicators that recovery is, indeed, underway in the United States and many parts of Asia. The most developed countries in the Mideast are also well on their way to recovery. The professionals who like to suggest what is ahead say that European nations are falling behind, but expected to eventually recover, too.
I’m finding this to be good news because even though I can still see the unhappiness of those affected by difficulties in their job track, I see that recovery is ahead. The old saying “This too shall pass” has always been one of my favorites. I hope we shall see some benefit from what we are currently going through and that, too, seems to be underway.
They say that Americans are cutting down their use of credit. We are learning to pay for things as we go, instead of putting off our obligations. We are learning to value the things that we have instead of constantly running out to buy the newest, latest, most flashy, most hyped items.
Gold is an investment of both real worth and emotional value as well. So, is it time to buy or sell gold? If you are looking to sell, this might be a good time to do that. A true recovery (even a “jobless recovery”) has the potential to reassure investors about the U.S. dollar, which might influence the price of gold downward. The price of gold could inch upwards a little more, but if recovery does take hold, it will likely start to slowly dwindle.
If you are going to buy gold jewelry for special occasions including the holiday season, this is an equally good time. The price could still hike slightly, and currently jewelers like many other types of retailers are interested in moving their products. Special prices, free shipping and other accommodations are more likely now than they are when the economy is on firmer footing.
I encourage you to look around at the “experts” on the economy and decide for yourself whether this is the moment for you to make a truly worthwhile investment in gold.
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Category: Gold Prices