So this is not a good time for us people to buy gold? Good time to seel our gold correct? I was looking to buy a Gold chain & from what im reading, this is a bad time?

Selling gold for extra cash

by Carly at Hoboken Now
Thursday February 26, 2009



Clean out your jewelry boxes. As stocks dive, the value of one thing remains high -- gold.

While much of the market these days looks too volatile; gold, on the other hand, is viewed by many as a secure investment.

Gold futures fell slightly today, but the price of gold has steadily been increasing for the past two years; it peaked last spring at $1,023 an ounce. Last Friday, the price again jumped to $1,007 an ounce. This week, the price of gold still remains high, with gold selling for $945 an ounce. That's markedly up from where it hovered in the $400 range just five years ago.

"It's an absolutely perfect storm for people who are gold dealers. All the other commodity prices have gone down -- except for gold," said the owner of Young's Jewelry in the Jersey City Heights (he declined to give his name). "It's a unique hedge against everyone's fears about Wall Street -- everybody's afraid of putting their money in stocks, banks or any other vehicle; gold is the one constant."

And as a result, Hudson County jewelry stores have seen an influx of customers wanting to get rid of their now highly valuable antique necklaces and charms. And in the midst of a recession, fast money is alluring to many.

read more:
http://www.nj.com/hobokennow/index.ss ... fall_the_price_of_go.html