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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Manhattan Gold and Silver Serves Consumers

November 1, 2010 06:53


While many may think we are only a business to business operation, we will also serve people looking to sell broken jewelry and other items containing gold.  Unlike some fly-by-night TV gold brokers, we have an excellent reputation when it comes to serving the public.  We have been in business for many years, and will continue to be in business for years to come.  We have a physical location where we welcome walk-in customers and the opportunity to discuss your options and help you to determine what your gold is worth.  Your gold items will be hand tested by one of our experienced staff members, and any stones or other precious metals will be removed and can also be appraised.  This process takes very little time and you can be headed out the door with cash in hand in a matter of a few minutes. 

The worth of your gold is determined by the London Gold Exchange and can fluctuate daily.  To keep updated on the price of gold, we feature a feed on the Manhattan Gold and Silver Homepage, which updates the price daily.  If you have any questions please don’t hesitate to call us at 212-398-1454 or stop by our location: 45 W 47th Street • New York, NY 10036

Record Gold Prices: Sell or Hoard?

October 27, 2010 04:53

 

The last quarter of 2010 will go down in the books as establishing a new record gold price. In fact, it established “a new record” several times.  The price is still rising.  So is it time to sell or time to hoard?

Let's look at several things.  We all know the price of gold reacts to how people feel about the stability of currency and the economy.  If the mood is confident (which would be reflected with a rosy U.S. Consumer Confidence report as well as retail and home sales) it's because Americans are feeling good about the value of their dollars and inflation holds steady as the money circulates in the economy.  They spend, put money in the stock market and sometimes “invest” in big screen tv's and iPods. 

But if lack of confidence strikes, they buy gold as a hedge against inflation.  They start to buy or hoard gold "just in case." The price shoots up, but there can be back and forth play between buying and selling.  

Should Americans rush out to sell gold?  Selling is up by those who are suffering economically and are using sales of family heirlooms to pay current expenses.  Until the economy recovers, this may continue.  For them, it's an ideal time to sell.   

What about for businesses? Yes, for a business such as a pawnshop or dental lab, the time is also right because the prices being paid at Manhattan Gold & Silver are at record highs because of the new gold peaks.  Your business may take in gold and sell it a short time later and reap a small benefit.  Holding onto gold supplies makes little sense for a small business which is every bit as likely to lose money by holding assets.  Regular scrapping of metals on a monthly or weekly basis will cost average your sales.     There is no need to stress over fluctuating gold prices.  It’s the same as steady investing; you will yield better returns and will not lose any sleep.  In fact, it's potentially dangerous because prices can fall.

Will the price improve? Possibly, but in between are wild swings, downtrends and other unpredictable moments.  Make your best deal possible and go with it, factoring in your own needs such as closing your books at the end of the year, taxes and expectations for your business in the coming months.  

The most common question to us at Manhattan Gold & Silver, what do we think gold is going to do?  If we had this answer, we would be answering these questions from the beach with a margarita in hand!

 

Gold Prices Grab The Headlines, But is Silver Still a Good Investment?

October 22, 2010 23:44

 

It’s easy to see why so many people are investing in gold. Lately, it seems as if gold prices are continuously on the rise. And as long as the economy is weak, gold investment may be a good investment for the foreseeable future.  While gold has grabbed the headlines, silver may be a good investment vehicle as well.  In fact, since January, silver has outpaced gold as an investment.  If you had purchased $100 worth of silver, it would now be worth $146.  A gold investment of the same amount would only get you to the $126 mark today.

Silver may continue to be a good investment for a few different reasons.  As the price of gold rises, silver also rises as an alternative to paper currency and as an investment option. Also, silver is used more commonly within industrial commodities.  This makes silver more expensive as a whole.  

So while much of the world has been recycling their gold at record prices, now may be a great time to invest in silver.  Those without the means to invest may have silver pieces that will fetch a higher price if brought in for recycling as compared to the past.

Manhattan Gold and Silver recycles silver, gold and other precious metals (B2B).  In many cases, you can have a transaction settled within minutes of stepping through the door. Visit our physical location or contact us for more information about our precious metal refining services.

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