Oil Spills, European Market Crisis, and Cash for Gold. What This Means for You

The news recently has been devastating to a Global Economy trying desperately to climb out of a three-year economic recession. Recent events have made a significant impact on world Gold Spot Prices and how this translates to consumers with precious commodities such as gold, silver, and platinum. British Petroleum’s disastrous oil platform explosion at the end of April has led to an uncontrollable leakage of crude oil into the Gulf of Mexico with plenty of environmental and economical consequences. Fortunately, crude oil has been at a surplus for the past several months, but historically the summer time has always trended for increased oil and gasoline prices. Before the disaster gas prices were looking so bad, but now we can predict that the gas price will pick up. This translates to Gold rising in value also, as gold moves in accordance with increases and decreases in oil. The European Bank is facing its toughest challenge yet since its formation, a complete bankruptcy of one of its Country’s Assets, Greece. What this means for the Euro on Forex Markets is equally devastating. The once untouchably strong currency has deflated strongly causing gold’s value to jump across the world in the Asian, European, and NY Stock Markets as a safer asset regardless of economic state. Now coming down to it, what to do with gold today? Well if you are looking for cash for gold opportunities or selling silver or platinum coins and bullion. Right now is probably the best time ever and that is because these prices are the highest the world has ever seen. Even if gold continues to rise, the smart decision is to sell now rather than bearing all the risk of gold sinking.