With the markets rapidly changing, experts say now is the time to cash in. This week’s surge on Wall Street is creating a demand in buying and selling gold, a trend that has been seen in the past during times of economic uncertainty.
- Pensacola, a city known for its rich history and cultural heritage, has seen a significant increase in demand for gold and silver coins, bullion bars, and broken jewelry.
- According to Stephanie Dodson, manager of Emerald Coast Coins, the demand for gold and silver is growing rapidly, with people seeking alternative investments.
- Experts say the market hates uncertainty more than it hates bad news, and with the stock market producing nothing but uncertainty for the last two months, people are turning to gold as a safe-haven asset.
“ I’ve definitely seen an influx of people coming in to invest or look for different ways to save their money — and gold and silver is definitely at the top of that list,” said Stephanie Dodson, manager of Emerald Coast Coins.
The trend is not new, with a similar surge in demand for gold and silver observed during the 2008 stock market crash and the summer of 2020.
| Benefits of Investing in Gold | Drawbacks of Investing in Gold |
|---|---|
| • **Portability**: Gold can be kept with you in your pocket, providing a sense of security and safety. | • **Volatility**: The prices of gold can fluctuate, making it a high-risk investment. |
| • **Diversification**: Gold is a low-risk asset that can help diversify a portfolio. | • **Depreciation**: The value of gold can depreciate over time, making it a less desirable investment. |
Today, the price of gold is at an all-time high, with the going rate being $3,200 per ounce. A silver coin could sell for as low as $37. A gold coin is valued at more than $3,000.
According to Dodson, the demand for gold and silver is not limited to short-term investors. People are seeking alternative investments for the long haul, with the intention of holding onto them until they retire.
- Some investors are looking for a way to diversify their portfolio and reduce their risk.
- Others are seeking a safe-haven asset during times of economic uncertainty.
Dodson says the increase in demand for gold and silver is not limited to the United States. The market is global, and the demand is driven by various factors, including tariffs and economic uncertainty.
A safe-haven asset is a financial instrument or commodity that is considered to be a reliable store of value and a source of safety during times of economic uncertainty or market volatility. Highlights:
• The market is experiencing uncertainty, leading to a surge in demand for gold and silver. • The benefits of investing in gold include portability, diversification, and the potential for long-term appreciation in value. • The drawbacks of investing in gold include volatility, depreciation, and the risk of loss.
Experts, such as Jarrod Dawson, a financial advisor with Raymond James in Pensacola, recommend diversifying your portfolio and consulting with a professional to find the best investments for you.
“The market hates uncertainty more than it hates bad news,” said Dawson. “Instead of investing in cryptocurrency or traditional stocks, people are turning their cash into treasure – gold and silver. It’s a safe-haven asset that can provide a sense of security and safety, especially during times of economic uncertainty.”
As the market continues to change, it’s clear that gold will remain a popular investment option. With its unique benefits and drawbacks, it’s essential to approach investing in gold with a clear understanding of the risks and rewards.
With the tariffs ongoing, Dodson says business at the coin shop is expected to remain busy in the coming months.
