Make Money By Selling Bullion
These past two years have been tough on the economy and a lot of people have found it hard to +make ends meet. There is a growing number of people who are looking for alternative ways to get cash by circumventing the complicated processes that money lenders like banks will take you through. If you have bullion in your investment portfolio, then you should be thinking about liquidating the bullion.
Before you sell bullion there are a couple of things you need to understand the pricing, where the price is going and what drives the rise in prices. It is also important to find the right buyer who will give you the best price for your bullion.
Where is the price of gold heading?
Precious metals are affected by a number of things, from economic to political factors. In the last year, the price of silver went up by 70%. In the last 12 months, the demand for silver has skyrocketed. Silver is a precious metal used in a lot of applications and industries from jewellery to photography. Electronics to solar panels for green energy generation. The reason that silver is widely used in industrial application has to do with its superior conductivity and its durability. Silver can be found in automobile and appliances, computers and mobile phones. According to market analysts, more that 50% of the silver produced is for industrial applications and the rest is for investment purposes. Of the two, industrial use is the main driving factor for the recent increase in the value of silver. The global shift towards green energy has also spurred the rise in demand for silver to be used in solar panel productions.
To decipher where the price of gold is headed we also need to look at what the gold price is doing as well as the strength of the dollar. So far the value of the U.S dollar dropped in recent months and gold has soared due to the fact that it is seen as a safe haven. Its value remains stable and isn’t depreciated by external factors. When gold goes up, the price of silver also goes up as more people search for stable investment assets.
Analysts have predicted that gold would go above $2,000 an ounce and it has, and seems to be holding on to that level. What does that mean for anyone who wants to sell bullion? Is the demand high and supply low? Yes. Are there any destabilizing global events that can affect the global economy? Yes. So, yes this might be a great time to sell silver as the prices will be high.
Is your silver real?
- There are a lot of counterfeiters out there. Counterfeiters often miss the small details. Familiarize yourself with the real thing by researching the design aspects of the silver bullion.
- Use a magnet. Pure bullion coins aren’t attracted by magnets however, coins or products made from the finest silver are not magnetic. If your magnet is able to attract you silver then you should know what you thought to be silver might just be iron or nickel made to look like silver.
Once you have established that you have the real deal, you need to investigate the various dealers and look for one that will give you the best price for your bullion. You can get quotes on line or get quotes over the phone just make sure that you are dealing with a buyer that has a physical presence. The industry has gone through a lot of upheavals. With a little bit of time and some understanding, you could negotiate a great deal for the bullion you have.