PINEVILLE, N.C. — Gold and silver took a slight hit recently, but overall, they’ve been soaring this year. According to national news outlets, including Fortune Magazine, gold has been up more than 50% since last year. Silver has increased more than 70% recently, according to CNN.
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“The world is a very chaotic place, right now,” Patrick Duncan, with Piedmont Gold Exchange & Refinery in Pineville, explained. “When there is a lot of uncertainty, people turn towards concrete assets that are tried and true. There’s nothing known more well than precious metals, gold and silver.”
He added, “It’s not a flash in the pan. I don’t think that gold and silver are going to drop significantly in the next month.”
Action 9 attorney Jason Stoogenke says here’s what that means for you in dollars and cents. If you need extra money, you may want to part with some gold and silver. Stoogenke met a man who decided to trade some gold in for cash. Three small pieces landed him more than $6,000.
And if you don’t need the cash, hold onto the metals as prices go up. They’re a great investment. Maybe even buy more.
But a word of caution: Don’t put all your eggs -- or metals -- in one basket. Diversify. Invest in more than just gold and silver.
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