Personal Finance Buzz

For those who are strapped for cash, selling gold might seem like just the thing to do. However, not every dealer is respectable. Here are some things to keep in mind to avoid being ripped off as you sell your gold.

Gold prices have been soaring in response to inflationary pressures brought about by the government’s monetary policy which as caused a decline in the value of the dollar. Investors who are preparing for steep and prolonged inflation have been flocking to gold as a hedge and as way to provide stability in their investment portfolios. Investors, who envision something even worse, perhaps the breakdown of the economic or social structure, usually prefer to buy and store physical gold which, under those circumstances may be the only currency of value. Then, there are those who look at gold as a solid long term investment. In addition to owning physical gold, these investors also gravitate towards gold investment companies for the potential of even greater returns.

Gold is trading close to an all time high. Is gold just beginning it's upward trajectory? Or is there a gold bubble and gold bugs in for a world of pain?

With gold prices on the rise — now above $1,800 an ounce — it can be tempting to take in your jewelry and sell it for cash. However, you need to take a step back and make sure it's the right thing for you. Don't get ripped off.