The pattern is quite predictable. Uncertainty and instability, whether economic, social or political, drive up the price of precious metals. This is a historic fact. Much like an archeologist can look at ancient sedimentary strata and infer that certain things happened relative to the composition of these layers; we can look at a precious metal chart alone and verify that peaks in the graph indeed correspond to various geopolitical commotions that occurred at those points in time.

Gold should always be part of a diversified investment portfolio because its price increases in response to events that cause the value of fiat currency, stocks and bonds to decline. Although the price of gold can be elastic in the short term, it has always maintained its value over the long term.

Within the last 30 days, the price of gold has gone from $1,849.60 per ounce to $1,965.40 per ounce. This year also saw gold reach $2,063.20 per ounce, the highest price gold has ever attained (not including the brief and somewhat anomalous spike in January of 1980). And obviously 2020 has been a year to remember, albeit not fondly.

We can all recall when “30 days to stop the spread” was a thing. Nine months later and here we are, with mannequins in department stores now sporting the latest in face-mask fashions. Stay in your basement and avoid people at any cost lest you become a statistic on the COVID casualty roster, you were told. Unless you wish to riot, loot and burn down other’s livelihood – then COVID is not a thing. Similarly, COVID does not thrive at your local Walmart or Home Depot. However, family gatherings and church services have been affectionately dubbed  ‘super-spreader’ events.

What does the future hold? No one has the answer to that. However, stocking up on gold is not a bad idea. It’s a win-win situation. If things do not get worse, your gold will still be valuable. If they do, then it will become even more valuable. As the saying goes, “don’t put all your eggs into one basket”. Diversify with gold and silver today!

Simply put, Metro Pawn & Gun is the place to buy and sell gold in this area. Come see us if you want to buy, and if you need to sell, bring it to us and we will make a fair cash offer!

As always, check our site for the most current information regarding operational changes or COVID-related mandates.