Well its time to get with the times so here I sit writing my first blog. Why has it taken me so long I wonder since I actually enjoy writing. I think the answer lies in the fact that I’m not sure what I have to say is something anyone would actually care about. So my strategy for blogging may change over time but for now it will be for information and education of the precious metals industry including gold, silver, platinum and diamonds as well as jewelry in general.
As I am writing this gold is hovering around the $1700 per ounce range. That is up considerably over what it has been the last few years. The reason of course is all the chaos associated with Covid-19 as well as the financial crisis it has placed on not only the United States but the world. More debt and more printing of money creates potential of inflation and many see gold as a hedge on inflation. So what can we expect in the future is anybody’s guess but for now economic uncertainty has created a rise in prices.
How does this impact Gold Partners and you? Well the answer to that depends on how you might be interacting with us. If for example you are wanting to buy gold bars or gold bullion then you will have to pay more for it. That being said if you are looking to sell scrap jewelry or unwanted jewelry then we pay you more for it. The one exception to that at the moment is the diamonds. Gold and other metals have a continuous market however diamonds are impacted by jewelry sales and since Covid-19 has shut down so much of the world at this particular moment there are little or no buyers of diamonds. Therefore, although we value diamonds in addition to the metals in your jewelry, that part of the value is significantly down with the overall diamond market on hold.
Thank you all for reading my first blog and there will be more to come!