In December of 2008, gold prices outpaced platinum for the first time since the 1990’s. The primary use of platinum is as a catalyst for the auto industry, so prices were depressed by a lack of demand for new vehicles. At that time gold’s journey to new highs was driven by investors concerned with the increased debt load and deficits of the US and other Western economies. In tough economic times, investors historically move to gold as a hedge against inflation or unrest.
Since the price of gold overtook platinum eight months ago, gold has fallen to what is still a historic level. And as more companies market gold in these trying economic times, we expect these trends to continue; however, gold prices can and will continue to fluctuate.
Individuals holding gold bought at a fraction of today’s price continue to cash in and make impressive returns on their initial investment. Our friends in the pawn, jewelry, coin collecting and even industrial and dental fields are acquiring and accumulating gold and other metals at a record pace. As they accumulate more material, they turn to Manhattan Gold & Silver to process it.
Manhattan Gold & Silver serves only businesses with a need for a trusted recycler to melt, assay and refine their cache all with prompt payments at the highest rates. We are proud of our twenty-five years of exemplary service and the trust of our customers.