Buyer of Gold, Silver, Coins..

With the economic recession, you may have noticed gold buying businesses sprouting up like mushrooms. Long ago it was pawn shops that bought your old/broken gold or you took it to the family jeweler who melted it and made you a new piece of jewelry. But with all these offers to 'mail it in' or 'come to a gold party' or 'cash for gold' or the jeweler down the block ready to buy gold now, who can you trust to get the best value?
 
First off, mailing your jewelry to be tested and valued is not a great idea. Why not go to a business and have them test it in front of you and give you a value. If you like the price, sell it and get cash. If not, walk out with your gold/silver.
 
Pawn shops have been around for years serving the people. And their modus operandi is usually to give pennies instead of dollars. So going to them will give you very little value for the precious metal that exists in your old/broken/mismatch gold and silver jewelry.
 
Gold parties sound like fun - who does not like a party? But to do a transaction where you are trying to get as much value for your gold, you need to know if this is a business or just a hobby. If you have a question, will the party still be going on tomorrow or next week?
 
Trust - always a good thing to look for when looking for a place to get cash for your gold, silver and diamond jewelry.
 
Turn It To Cash
 

Ayesha Siddiqi
 
Turn It To Cash
1200 N Arizona Ave, # 4
Chandler, AZ 85225
Ph:  480-854-4849
Fax: 480-854-4926
www.turnittocash.com

Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a hedge or safe haven against any economic, political, social, or currency-based crises. These crises include investment market declines, inflation, war, and social unrest. Investors also buy gold during times of a bull market in an attempt to gain financially.

At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes. This can be represented by a cube with an edge length of just 20.2 meters.

Throughout history gold has often been used as money and, instead of quoting the gold price, all other commodities were measured in gold. After World War II a gold standard was established following the 1946 Bretton Woods conference, fixing the gold price at $35 per troy ounce.

The system held up until 1971 Nixon Shock, when the US stopped the direct convertibility of the United States dollar to gold. Since 1968 the usual benchmark for the price of gold is known as the London Gold Fixing, a twice-daily (telephone) meeting of representatives from five bullion-trading firms. Furthermore, there is active gold trading based on the intra-day spot price, derived from gold-trading markets around the world as they open and close throughout the day. The following table sets forth the gold price versus various assets and key statistics:

Today, like all investments and commodities, the price of gold is ultimately driven by supply and demand. Unlike most other commodities, the hoarding and disposal plays a much bigger role in affecting the price, because most of the gold ever mined still exists and is potentially able to come on to the market for the right price. At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes. This can be represented by a cube with an edge length of just 20.2 meters.

Given the huge quantity of stored gold, compared to the annual production, the price of gold is mainly affected by changes in sentiment, rather than changes in annual production. According to the World Gold Council, annual mine production of gold over the last few years has been close to 2,500 tonnes. About 2,000 tonnes goes into jewelry or industrial/dental production, and around 500 tonnes goes to retail investors and exchange traded gold funds. This translates to an annual demand for gold to be 1000 tonnes in excess over mine production which has come from central bank sales and other disposal.

Central banks and the International Monetary Fund play an important role in the gold price. At the end of 2004 central banks and official organizations held 19 percent of all above-ground gold as official gold reserves. The Washington Agreement on Gold (WAG), which dates from September 1999, limits gold sales by its members (Europe, United States, Japan, Australia, Bank for International Settlements and the International Monetary Fund) to less than 400 tonnes a year. European central banks, such as the Bank of England and Swiss National Bank, have been key sellers of gold over this period. Although central banks do not generally announce gold purchases in advance, some, such as Russia, have expressed interest in growing their gold reserves again as of late 2005. In early 2006, China, which only holds 1.3% of its reserves in gold, announced that it was looking for ways to improve the returns on its official reserves. Some bulls hope that this signals that China might reposition more of its holdings into gold in line with other Central Banks.