Lucky we live Hawaii – far from the bullishness of Wall Street. But though we are miles apart, our islands are directly affected by the state of the U.S. financial market.
In the aftermath of the 2010 financial crisis, the popularity of gold peaked. Stocks, savings accounts, and other interest-building investments dropped in value, and emerging from the progression of metal’s value was the idea that gold prices should go up — even while other assets fell.
Fast-forward to our current 2015 and 2016 projections and you will find the exact opposite is occurring. The dollar has been stable in the past few years, giving consumers the confidence to make short-term investments – stashing their cash in stocks and savings accounts.
Because of the increase in such investments gold is losing its glitz, glamour and value. It is estimated that in 2015 the gold forecast will lower four percent to $1,220 per ounce. The drop in value is the lowest for the precious metal since April 2010.
But an old Wall Street adage says a good time to buy something is often when everybody has turned against it.
Financial experts recommend nixing the glitz of gold. This year think about letting go of unwanted gold pieces before its value declines. If you’re thinking about selling your gold in Hawaii with an honest and reputable jeweler, contact us today.