With gold prices climbing over 20% in the past year and over 46% in the past two years, many are wondering just how high can gold possibly get. Just a couple of years ago it seemed like a slim possibility that gold would actually reach the $1,000 per ounce plateau. It was talked about as a joke when gold investing companies like Swiss America started predicting $1,500 an ounce gold prices. But here we are, reaching the highest mark in history earlier this month at $1386.40. Observing the many factors that come into play with the precious metals market, we predict that by the end of 2012 gold will reach $2000 per ounce. Now, we are not professional gold investors, financial advisors, economists, or even scholars for that matter. We are simply pawnbrokers with about 17 years experience. In conducting business with the local people in the area, we have never seen a greater need for financial support than we see right now. There has been a noticeable increase in upper and middle class patrons in need of loans. Like many, they are hard working folks who have run into money woes due to the recent troubling economy. With job loss being the overwhelming theme, we also hear of pay cuts, government benefits dropped or reduced, and local business owners claiming the customers are not spending money like they use to. Who to blame for our current economic state does not do a lot good for helping us get out of it. But as always we are seeing the familiar finger pointing and constant blame game that is become second nature in our nation’s capital. We are also witnessing the daily devaluing of our dollar, the unprecedented borrowing from China and multiple back-to-back trillion dollar deficits. Obviously these factors have had a hand in driving gold and other precious metals to their current values. And with the current administration’s policies, many do not see things getting better any time soon. Now, we have heard that the recession has ended and that if the country did not receive the bailouts the last couple years that things would be far worse. Unfortunately, we will never be able to prove or disprove that theory. We can merely speculate, and speculate is exactly what people are doing when they decide to put their money into gold and other precious metals over the other options available on the market today. So as we are being assured that this is the bottom and that the economy will soon be on an uptick, keep an eye on the gold market because it is stating otherwise.
If you are looking to make a gold purchase, receive a cash loan on your precious metals, or if you could just use some helpful information please visit us on the web at http://www.tbgoods.com/ and stop by one of our two locations in the Alachua county area. We have a friendly staff, a clean environment and unmatched customer service.