People are always looking for ways to increase their income or to get a little extra cash to get them through the week. Maybe you have a holiday coming up and you didn't get a bonus from your boss or you need a little extra cash to tide you over until the next payday, but you don't know where to find the cash. One of the best ways to get that holiday bonus that you want is to sell the old broken pieces of gold jewelry that you have.
Most people do not realize that the price of gold is rising rapidly. Below are the 5 top reasons why gold it going up in value so quickly.
1. Supply and demand- this is one of the top reasons that gold is going up in value. The production of gold has slowed down since the economy has gone into a recession so the demand for gold has gone up. More and more companies are offering above and beyond the going rate for gold just so they can get their hands on one of the hottest commodities. It is said in order to decrease the demand for a product you need to raise the price.
2. China is adding to their reserve of gold. It has been well known that China is trying to increase the amount of gold that they hold so for that reason alone the price of gold has gone up. They are pushing for their citizens to invest or buy more gold and they need to be sure that they have an excess amount of gold in stock to meet their demands. They hold the title for the most populated area so their demand for gold is much higher than any other area.
3. India is one of the main manufactures for jewelry and they hold the title for main mining area for gold. They plan on continuing to buy up gold for manufacturing jewelry as the amount of mining has gone down.
4. Since the economy is dealing with inflation it is only natural that the price of gold is pushed to the limit. This makes it the ideal time for people to get rid of any unwanted gold items such as broken jewelry. More and more jewelry stores as well as internet companies are offering top dollar for any gold items. In some cases these companies are offering an additional 20% bonus if you act within a certain time frame.
5. The overall value of currency. There has been a steady decline in the value of the dollar which automatically makes the price of gold go up. When the value of currency goes down it lessens the security of the monetary value money holds so more people turn to buying precious metals where their investment is much safer.
The author is a regular writer on gold investment article. He also write on other topics such as sleeping bags for kids [http://www.sleepingbagsforgirls.net/sleepingbagsforkids.html] as well as coleman sleeping bags [http://www.sleepingbagsforgirls.net/colemansleepingbags.html].
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