PODCAST: But analysts say there's plenty of value in those nuggets
We drive buy the cash for gold stores all the time. One company did a Super Bowl Commercial a few years ago featuring the late Ed McMahon and M.C. Hammer We even hear celebrities like Glen Beck endorse companies that want to buy your gold.
But eyebrows were raised when the World Gold Council announced sales were down for the first time in a few years in 2012. Mike Fuljenz of Universal Coin & Bullion in Beaumont told KTRH numbers are misleading.
“One of the biggest buyers are central banks around the world. They’ve been net buyers over the years, not net sellers. You have to think globally,” Fuljenz said.
Gold analyst Michael Woolfolk says it's just a blip on the radar screen.
“This is an aberration and not something we should expect to continue for the remainder of the year,” Woolfolk told KTRH.
And think value, which is at an all time high. According to Fuljenz, it’s only going to go higher.
“As long as we keep spending more than we take in, gold will rise in currency terms. I am looking for a 5-15% increase for the 13th straight year for gold to go up,” Fuljenz said.
He thinks you should hang on to your gold, but if you're looking to sell he has advice.
“You need to make sure that any dealer you sell to has their precious metal dealer registration up and their scale registration up,” Fuljenz explained.
And he says you should shop around for the best price you can get.
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