Gold, Silver and Platinum metal prices have caught fire again and are advancing to record level highs based on some poor economic data and news. This past week we have seen several major news stories from around the USA and world that have pushed metals back onto the fast track of commodities. The news starting with Iran and Israel testing missiles abroad, Fannie Mae and Freddie Mac look like the “Titantic”, and IndyMac bank closing which is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history.

The news we got this week was bad….but even worse is the strain being put on the “average” American family with inflation running rampant and the dollar sinking. This year already, the Dow is down -16.32%, S&P down -15.59%, U.S. Dollar Index is down -5.67% and Crude Oil is up +51%. The only bright spots are the commodities markets, but unfortunately most “average” Americans are unaware of this unique market where the “fast” money is won and lost everyday. This year Gold is up +14.63%, Silver up +26.14%, and Platinum is off the charts.

Many people are surprised to learn of the investment that they have sitting in the old jewelry box. With the current high prices of these precious metals, consumers are taking advantage of the record highs and turning “scrap” gold, silver and platinum into cash. That little pile of broken chains, kinked herringbone necklaces, and grandma’s most cherished heirloom you would never be caught wearing is now actually worth something.

J.Staples Jewelry is currently buying all types of scrap gold, silver and platinum. Please stop by our convenient location in Louisville, KY and have your old gold jewelry evaluated today. The “fast” money is here today, but could be gone tomorrow. Welcome to the commodities market, and this time instead of being the last guy on the train be the first……I’ll see you there.

Dan Staples