So, you are considering selling your gold.  You’ve gone through your jewelry box, gathered all your miscellaneous gold items that have been laying around for years or months and now you’re ready to sell your treasure.  The question, now, is where do you go?  Who do you trust? How do you know you’re going to get the best deal?  Can you trust that what they offer is the best deal?  These are all legitimate questions you will and should ask yourself.  Since gold has been on the constant rise for the last 5 years, there has been an explosion of new and untested start-up gold-buying companies claiming to be the “BEST” and paying the MOST.  Is this true?  How do you know?  You see and hear commercials daily claiming this.

EXCELLENT CNN GOLD SELLING ARTICLE (01-27-10)

http://money.cnn.com/2010/01/27/pf/gold_jewelry_cash.moneymag/index.htm?hpt=Sbin

In addition to the companies listed above, you also have to contend with the “Traveling Gold Buying Companies,” or “motel” buyers.  These companies travel the U.S. from hotel to hotel, advertising “PAYING THE MOST” in local papers and other forms of advertising.  Is this true?   Are you getting the most?  Who knows?

As a third-generation jeweler and an active gold buyer and seller for the past 25 years, I am qualified to tell you the answers are a flat out NO. These start up companies, internet buyers, traveling buyers and the like are out for one thing and one thing only:  PROFIT.  Now, profit is not a bad word.  Actually it is the root goal of every business.  Profit is needed to stay in business, but how much is the root concern.

With all of this information, where do you go now to sell your jewelry?  My advice as a trusted and tried professional in the jewelry industry is this.  Do your research.  Compile a list of all the gold buyers in your area—say a 25 mile radius.  Trust me. It will be worth the travel time and gas to visit all on your list.  Next, ask a trusted source to help you “sort” your gold into the different karats—or type: i.e. 10k, 14k, 18k, platinum and so on. Now, weigh each parcel in grams or pennyweights Record this information and hit the road with your knowledge and treasures.  Once you get all of this information, you will know who is paying the most and who the most reputable source is for you to do business with.

Your best source would be a local jeweler, pawnbroker or reseller who has been in your community for many years or decades.  The reasons are obvious:  Longevity means honesty, stability and integrity.  Also, many of these companies will offer other services and products that you could take advantage of, such as jewelry repair, jewelry design, appraisals, watch battery replacement or similar. By doing so, you and that business will begin a long-term relationship that will benefit both you and them.  A successful business transaction is one that benefits both parties involved, not just one or the other.  A WIN/WIN situation is what you should be looking for.

If you have made it this far in this article and would like more information from a true and tested gold buying veteran, please feel free to call me on my toll free number. Or, stop in if you are local and I will be glad to assist you in any way to make your gold selling transaction an enjoyable one that we will both be happy with.  Hopefully, this will be the beginning of a long relationship between both of us.

Respectfully, Perry Lewin, Owner, Decatur Jewelry & Pawn.

24kt Gold Investment

Gold futures prices are trading  higher Monday morning as investors continue their move into  safe-haven investments  amid the escalating tensions in the Middle East. Also helping gold is a weakening U.S. dollar index.  Comex April gold last traded up $4.90 an ounce at $1,414.20. Spot gold last traded up $3.70 at $1,414.00.

While the civil unrest in the Middle East did not see any new, dramatic developments over the weekend, the situation is still inviting safe-haven investment demand into the precious metals markets. Crude oil futures prices have backed down from last week’s 2.5-year high of $103.41 a barrel, on ideas oil will continue to flow from Libya even during a regime change. There are technical clues crude oil prices last week did put in a near-term market top. If so, that would be at least slightly near-term bearish for the precious metals. Still, precious metals traders are keeping one eye on the crude oil market as a gauge of tensions in the Middle East.

The U.S. dollar index hit a new four-month low overnight. The technical position of the index is currently extremely weak.  The U.S. dollar has also not seen safe-haven buying interest once  enjoyed during past geopolitical uncertainty. If the U.S. dollar index continues to trade slide, which is what the technical data is currently suggesting, then investors will continue to turn to gold as their safe-haven cushion.

Worldwide inflationary price pressures  makes investors “bullish” on the precious metal.  Also  commodity prices in general are still at multi-year highs. If you combine that with the central banks’ policy  of quantitative easing (printing money)  that is a recipe for consumer price inflationary pressures.

Gold has increased over 30% in the past year, offering savvy investors a physical safety net against inflation, economic woes, political tensions and ill-thought government policies.  If you would like more information on how to invest in gold or silver to protect your assets and future wealth, contact us by email or call our toll free number 1-888-877-GEMS (4367)

 SINGAPORE, Feb 24(Reuters) - Spot gold prices held steady
just below a seven-week high on Thursday, as violence in Libya
continued to buoy safe-haven demand in bullion and high oil
prices, triggering inflation fears, also lent support.

 As many as 1,000 people may have been killed in the unrest.
On Wednesday, thousands celebrated as the east broke free of the
control of Mummar Gaddafi, who has vowed to crush the revolt.
For related stories, click

 "People don't have much confidence that the Libya crisis
will be settled any time soon, so a lot of them are betting on
gold," said a dealer in Singapore, "Gold will be the king."

 Crude oil prices hit a 2-1/2-year high on mounting fears
that unrest in Libya could spread to other major Middle East
producers, including top exporter Saudi Arabia.

 Soaring oil prices raised concerns of higher inflation and
slower economic growth globally, which might also lead to some
gold buying.

 Spot gold was little changed at $1,411.42 an ounce by
0308 GMT, off the seven-week high of $1,416.30 hit in the
previous session.

 U.S. gold futures edged down 0.1 percent at
$1,412.30.

 Spot gold will test the Jan. 3 high at $1,423.57 per
ounce, based on its wave pattern and a Fibonacci projection
analysis, said Reuters market analyst Wang Tao.

 For a 24-hrs gold technical outlook:

 here

 "There is no reason why we can't break through the recent
high around $1,416 and head towards $1,420 if the unrest
continues in Libya," said Darren Heathcote, head of trading at
Investec Australia.

 "Of course if it spreads even further in field or becomes
more violent, gold will benefit further as a safe haven."

 Scrap sellers have taken advantage of current high price
levels to cash in, while fresh buying was limited, dealers said.

 Spot gold rose in seven out of past nine sessions, up nearly
eight percent since it hit a four-month low of $1,308 on Jan 28.

 "Prices are getting more dear, and some may take the
opportunity to sell then wait for the next dip to buy again,"
said the Singapore-based dealer.

 Spot silver inched up 0.1 percent at $33.55.

 Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust , rose to
one-month high of 10,575.23 tonnes by Feb 23.

 Silver prices are expected to stay at three-decade highs
even as new mine output of silver is forecast to rise eight
percent on the year, keeping up with growing demand, metals
consultancy GFMS said.

 Spot palladium gained 0.7 percent at $782, recovering
from a six-week low of $762.85 in the previous session, as
industrial metals bounced off lows. 	

 Precious metals prices 0308 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1411.42   -0.10   -0.01     -0.57
  Spot Silver        33.55    0.04   +0.12      8.72
  Spot Platinum    1792.24   10.74   +0.60      1.40
  Spot Palladium    782.00    5.50   +0.71     -2.19
  COMEX GOLD APR1  1412.30   -1.70   -0.12     -0.64         6326
  COMEX SILVER MAR1  33.55    0.25   +0.76      8.44         2560
  Euro/Dollar       1.3774

  COMEX gold and silver contracts show the most active months  

 (Reporting by Rujun Shen; Editing by Clarence Fernandez)

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