Saturday, February 21, 2009

The Golden Age

Precious metals are making a big comeback during this economic rough patch and now people are selling jewelry to raise a little needed cash. But a Gold Party?

Gold is hot. The precious metal soared $25.70 an ounce Friday to $1,001.80, topping the $1,000 mark for the first time in nearly a year. South African Krugerrands, American Eagles and other gold coins are in demand as people seek safe investment havens in uncertain times.

That has people digging through their drawers and jewelry boxes looking for watchbands, cuff links, chains and bracelets that can be sold to jewelers, pawnshops and other brokers to be melted down to feed the growing demand for gold coins.

My plan is to buy a bigger mattress.

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