Gold Fever to Blast Off - Consumers Scramble to Accumulate Valuable Metals from Unlikely Items

You can't walk along a main street or drive down a highway without being accosted by signs screaming, 'WE BUY GOLD!' And if you read the financial press you'll have seen a big up-tick in articles about gold and silver.

New York, NY (prHWY.com) September 16, 2011 - FOR IMMEDIATE RELEASE New York, NY 09/15/2011

You can't walk along a main street or drive down a highway without being accosted by signs screaming, 'WE BUY GOLD!' And if you read the financial press you'll have seen a big up-tick in articles about gold and silver, especially in the last 6 months when Silver prices doubled and Gold increased by over $600 an ounce. On sites like Kitco and JSmineset you can see that respected professionals are forecasting $5,000 an ounce for gold and $100 an ounce for silver in the next few years. John Embry, Chief Investment Strategist for Sprott Asset Management put it this way in an interview on King World News recently, "If history is any guide ... conditions are infinitely more favorable to gold then they have ever been at any other time in history." Despite the recent rise in prices for precious metals, relatively few people on Main Street are investing in gold and silver bullion or coins as a hedge against bad times to come.

This is all about to change. On Wall Street institutional investors are increasingly adding gold stocks to their portfolios ad vendors of gold and silver bullion and coins have seen supplies run out. Another sign of things to come is the number of people hunting for treasure in scrap machinery and electrical items. Many items from electrical fixtures to microwave ovens, old computers and car parts were made with gold and silver. Some even include platinum. The publisher of a program that guides treasure hunters, called Scrap4Treasure, says that sales have increased dramatically since the beginning of summer. Peter Schiff, Pres. and Chief Global Strategist of Euro Pacific Capital and Author ("How an Economy Grows and Why It Crashes") recently stated that the longer people wait to buy gold and silver the more expensive it will be. His words are being heeded by more and more people who want to own gold and silver in any form, even those who hunt for it in their neighbor's scrap.

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Tag Words: gold silver prices

Categories: Economy

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For more information on Scrap4Treasure visit www.scrap4Treasure.com or email Dan Molloy at dan@revDRTV.com or call 207.221.2880

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