Since the times of ancient Egypt, humans have been enamored with gold and acquiring as much of it as possible. Today, not much has changed except for how gold is valued and the factors that determine it. At the Gold Rush Exchange, the price of gold is something we follow daily so as to get the most cash for our customers when they choose to sell their gold to one of our 5 metro area jewelry stores or if our customers come to us to buy gold bullion or gold coins as an investment.
Buy and Sell Gold in Kansas City, Blue Springs and Independence
Rather than give our personal opinions about what ultimately drives the price of gold in up or down, we thought that it would be more appropriate to examine some of the known factors that effect gold and precious metal values. The central banks have much to do with the value of gold as it has increasingly become their choice of a financial reserve in recent years. The value of the US dollar is arguably one of the leading factors that effect the value of gold. When the value of the US dollar is down, the value of gold is typically higher as it is more tangible and appears less risky to investors who opt to put their money into investment avenues like gold bonds. Supply and demand is also is a determining factor for gold’s market value in that there is an abundance of gold and precious metal demand in the the jewelry industry as well as electronic and industrial applications globally. The jewelry industry itself often accounts for 50% or more of the worlds demand for gold and the United States is almost always the world’s largest consumer when it comes to gold and precious metals. Of course production and mining are also major factors in the price of gold because when there is less gold to go around, it ultimately increases in value. At the Gold Rush Exchange, we closely follow the price of gold and precious metal values to better serve our customers and help them understand the jewelry industry. Whether you are buying or selling gold in the Kansas City area, no one knows the value of gold better the the Gold Rush Exchange. Stop by one of our 5 metro area locations in Blue Springs, Waldo/Brookside, Independence, South Independence or Kansas City/Leawood for all of your gold and jewelry needs.