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Buying Gold To Survive Through Volatile Economy

In the midst of wavering economy, people of Southwest Florida, are banking on gold to bring some stability. They have been on a gold-buying spree. The yellow metal sale has been enormous; and so has the other expensive metals like silver. Mike Joyce, the owner of Gulf Coast Coin and Jewelry Brokers in Fort Myers has been force to brought in extra people to handle the upsurge.

Fear of bank’s under-performance and dollar’s collapse has led to history’s biggest lust for gold. The yellow metals are not going down in price any soon. People are so sure of further boom that they are purchasing even at the record high mark. Gold touched the elusive $1000 an ounce mark a year ago and is desperately close at $950 recently.

Not just Florida, gold trading has risen in volume around the world, claimed the managing director of CPM Group, Jeffrey Christian. Incidentally, CPM Group is a research firm on precious metals in New York. Christian has come out with statistics that gold trading is ranging about 52.3 million ounces worldwide. That is more than 1/5th percentage growth from last year. Christian echoes people’s apprehension about the world economy in last 8 years. Now they have decided to do something themselves.

This is what made William Regan, Fort Myers winter resident, to make a visit at a seminar on gold purchase hosted by Joyce last week. Regan was clear in concept when he said that gold would be steady through the steep recession that the world faces right now.

There has been a dynamic rise in both forms of buyers: The new ones and those who are veterans in ‘stacking’ gold coins and jewelry. Scott Waters, partner in Executive Bullion Precious Metal Exchange in Fort Myers asserted the same.