Moconomy is a News Media Outlet that makes excellent Documentaries about a wide array of topics in the Field of Economics. Their content is always done in the most professional way possible, educates and entertains.
In February of 2022, They made an hour-long Documentary about Gold that is paramount to anybody interested in the Economy and particularly crucial for those in the Gold Industry.
We found 3 Reasons why this Video Documentary is Key.
1.- Understanding the History of the Word Economy is essential to becoming a financial professional. Particularly knowing the role that Gold has had and still has as the oldest and one of the most critical and valuable currencies can make all the difference between economic success and failure.
2. It Educates the Viewer in dept, explaining how scarce it is, how it works as both a currency and commodity and its unique properties. How it has served and still does as a symbol of wealth, power, and beauty.
3. In this Documentary, one can understand the Importance of Gold and how today’s Economy relates to the metal. It also lets us look into the Economic Future while helping to understand the importance that it will have in the future and how to be better prepared for it.
The Documentary GOLD | Documentary | The History of Gold | Why Gold became Money by Moconomy.tv Makes an extraordinary documentary about gold, gold’s history, gold in the present times, and the possibilities of gold in the future.
Financial markets are still dominated by uncertainty as central banks’ monetary policies cause a worldwide recession to curb inflation. Watch GK News to hear from professionals on how to survive the choppy financial markets in 2023.
The gold market is concluding 2022 on the rise in about a neutral zone at around $1,800 an ounce after a hard year loaded with challenging obstacles.
The price of the precious metal is anticipated to drop by less than 2% at the year’s conclusion, placing it second among the best-performing assets just behind the US dollar. Although the market is becoming more bullish, some analysts caution investors that they will need to exercise patience in 2023.
Although the gold market is expected to continue outperforming most asset classes in the new year, some central banks and commodity analysts expect to see a significant push higher in the year’s second half. Gold prices are expected to remain at around $1,800 an ounce in neutral territory.
The Federal Reserve’s solid monetary policy stance, which weighed on gold for most of the year, may persist until the first half of 2023.
In its last monetary policy meeting for 2022, the Federal Reserve forecasted the Fed Funds rate peaking above 5% in 2023. The central bank’s updated forecast capped a year with the most aggressive tightening cycle since 1981 as inflation rose to a more than 40-year high.
Although inflation has come down from its summer highs, Federal Reserve Chair Jerome Powell said that the central bank’s job isn’t finished.
“Even with today’s action, we are not in a sufficiently restrictive position. When we reach that position, the next consideration is how long we should remain there. And there is a strong belief on the committee that we must stay there until we are convinced that the rate of inflation is down sustainably, which we believe will take some time, “At a press conference on December 14, he stated.
Despite the Federal Reserve’s steadfast stance against inflation, economists point out that the institution is nearing the conclusion of its cycle of tightening, which may be advantageous for gold.
According to Bank of America, the Federal Reserve will stop tightening policy in March, and the first rate cut will occur by the end of 2023.
According to Bank of America’s commodity expert Michael Widmer, the price of gold may reach $2,000 per ounce in this situation.
By the end of the year, the Federal Reserve is also expected to lower interest rates, according to commodity analysts at Commerzbank. However, as investors get used to a new terminal rate climb above 5%, gold prices may struggle in the short run.
The Fed is projected to decrease the benchmark rate again around the end of 2023 in light of a weak economy and lower inflation after what is anticipated to be the final interest rate boost in March. On the other hand, the Fed still needs to make this prediction. According to analysts at the German bank, the gold price should increase again as soon as the Fed follows suit.
As the U.S. economy will have been in a recession since the start of the year, this should be the second half of next year when inflation will have sufficiently decreased. The decline of the U.S. should also help the price of gold.
In 2023, how low can gold prices fall?
The Federal Reserve will continue to tighten its monetary policy in the coming year despite reducing the rate hike pace, which will reduce investor interest in gold.
So you have decided to learn how to buy gold, silver, and other precious metals. Your reasons may vary from starting a new business and becoming your own Boss, to getting additional income, starting a physical portfolio of precious metals, collecting gold items, coins bars and or jewelry, or the above combination.
That is a great choice and a beautiful skill you are acquiring. To become an expert in buying precious metals one must develop a skill like any other, although it takes work it is not as hard as it seems.
The best resource for achieving this is purchasing the online training course offered by goldbuyingtraining.com
To become great at this you must remember and follow-through important steps to become great at anything one must, first of all, acquire the necessary knowledge about the subject.
Know about the subject
No matter what it is. In this case, it is essential that you learn all about the history of gold and silver, not only the history but also basic physical and chemical components as well as how it acts and why. Not only will it help you understand the business but it will give you much-needed credibility.
At the very least you should understand what carrot with a k means, the symbols of the elements in the periodic table of elements, and basic knowledge about metal manufacturing, especially jewelry manufacturing since most gold and silver that you will encounter will be in the form of jewelry but not only.
This will help you comprehend what you are about to purchase, how it was made, and most importantly the content of gold that the item contains to determine its true value.
Learn to test for precious metals
Knowing how to test the percentage of gold and or silver within a piece of jewelry, scraps, teeth, coins, bars, Etc one must have good tools to be able to have a very exact approximation of the content of pure gold contained within a jewelry item.
This can be the difference between the success or the failure of the business and or the investment. Furthermore, there are a lot of scams all around and if you don’t know what you are doing you could end up losing tens or even hundreds of thousands of dollars.
Learn about pricing and calculating the worth of the metals
Knowing the purity of gold that a metal item contains is crucial to determine its true value, keep in mind that even though there is one spot price of the day, for you to make money you will have to calculate a decent price to pay for the item and how much you would be able to sell it for. That is why it is so important to understand the value of gold and or other precious metals especially if your goal is to profit in either the short term or the long term.
Get a notion of precious stones, Diamonds.
The precious metals industry is very often accompanied by other industries. In the case of fine jewelry, it is essential to have a minimal understanding of precious stones, the best example for this is the diamond, although you do not need to be an expert on diamonds it is very important to at least have a basic knowledge about diamonds. Another industry that accompanies the gold and silver industry is the watch industry so, again, it is not essential to be an expert on watches but it is important to at least have some basic knowledge about watches because they are going to inevitably show up.
Know the laws
If you are planning on creating a collection of gold and silver items or just purchasing some minor sums in either coins or bars then you should be fine. However, if your goal is to become a professional Gold buyer and you are planning on advertising those services you should comply with the law, in most areas you would need some sort of license it is very important to consult with a lawyer and with local authorities, for example, if you’re planning on opening a pawn shop or just plan to buy gold in your establishment you have to consult with the local police department to stay out of potential trouble that could ruin your business.
It is also very important to know that if you profit from the trading of precious metals as well as if the price fluctuates there will most likely be tas repercussions that must be considered to form a long-lasting practice.
Create a business strategy
No matter how big or small your investment is going to be, from trading small amounts of precious metals, bars, and coins, to building a business of buying and selling precious metals it is important to develop a plan.
Acquiring Gold and silver at the right price is crucial. First of all, you need to set realistic goals. Getting across the right item is not as easy as one might believe. you must be in constant search of people who will agree to sell you their gold.
You can decide to start small, with friends and family, then you would need a word of mouth network who will bring you enough people who will sell you their items. You can also be looking for things like estate sales, and other types of opportunities.
If you plan on building a big business purchasing and selling precious metals there are several ways you can achieve this, maybe open a physical location or partner with an existing business.
In this instance, there is no one-size-fits-all. The important thing to remember is to develop a plan that will help you meet your goals to acquire gold and other precious metal items.
Whatever your goals are, we wish you great success in the purchasing of gold and other precious metals. A great resource to learn about this is signing up for the online course at goldbuingraining.com, with a limited-time offer of $74.99 for life. By purchasing the course you will have access to all the very valuable data as well as additional assistance from one of our team members. We wish you great success.
Diversification is a key word used by many advisers when they advise that gold and other precious metals are deserving of a place in any investment portfolio
Gold – A diversifier in any Investment Portfolio
For the last 5000 years, gold and other precious metals served to back the economy, a country’s wealth used to be measured by the amount of gold they possessed. Although that is no longer the case, precious metals still play an important role in the world economy.
When all other commodities are down, the prices of gold, silver, platinum and palladium goes up, so does cooper. Especially in times of fear and inflation investors seek a safer product and go directly to buying gold. Many believe that gold is the only true currency, especially in times of panic and uncertainty.
Thanks to modern technology and globalization, we now have access to a great number of options of where to find gold; exchange and trade funds, jewelry swaps, even gold-vending machines. There are different opinions from advisors about gold and other precious metals. Some believe that gold and other precious metals should be a part of an investment portfolio because they help to diversify, silver and platinum, now, play a very important role as reliable commodities. Other advisors claim that gold and other precious metals are not investments, but more like collectibles, because gold or silver cannot produce returns.
We, at gold-buying-training disagree. But before you take the plunge into the gold rush, keep in mind some tips:
Don’t expect any return if you buy gold the traditional way. To learn more about buying gold at a discount click here
An unpredictable investment. The return on investment in gold, from 2001 to 2010 was of 17.7% per year. But this is not always the case. Relative to the US dollar, for instance, gold lost nearly 60% for almost 20 years in the 80’s and 90’s.
An Investment lacking a logical relation. Most assets move in tandem but that is not the case with gold, silver and/or platinum, which is why it serves as a diversifier in an investment portfolio. Some financial advisers recommend keeping up to 10% in gold and other precious metals in your portfolio to help stabilize portfolio volatility.
There are a lot of ways to buy gold
Real and physical gold. As an investment, gold coins and bars are the best option for those who want to keep it close and in an immediate basis. Jewelry is another asset but a hole other ball-game, it did, however, represent 54% of total gold demand in 2010, according to the World Gold Council.
Stocks. When it comes to stocks, gold, silver and platinum mining stocks are the most popular option. These offer investors the option to bet on gold demand. Mining company profits can change rapidly with the price of gold and other precious metals, when the price of gold goes up, mining stocks tend to go up as well.
Funds and ETFs. Some advisers and investors rely on GLD, the abbreviation for gold in the financial-investment world. Trade-exchange funds like SPDR Gold shares (GLD) are, indeed, backed by gold, however shareholders are not given the option of taking actual possession of it.
Safety. When possessing valuable items, one must consider certain safety procedures and keep in mind different options.
In the bank. One must be careful with bank safe deposits. Like everything else in life, building good business relationships is essential to long lasting and profitable business. When choosing a bank safe, take the time to talk to bank representatives and let them know that you are going to be storing precious metals in the safe and ask what is their policy to storing that in case the bank is robed. A very famous case, in Mexico City, where a bank was robed, one of their savvy customers had an inventory and a log of every item deposited in her safe-deposit box and she got reimbursed up to 90% of the value of her belongings.
At home. Homeowners’ insurance policies generally cover very little gold stored at home. If you decide to keep you gold at home be very careful and extremely cleaver about where you store your gold.
Avoid rookie mistakes when you buy gold.
Be careful who you buy from. Buy from someone who has been in business for many years, don’t be afraid to ask for other clients, make sure they acquire their gold from institutions such as the US mint or Bank Swiz.
Avoid paying too much. Never pay premiums of more than 9% over the spot price of gold per Ounce.
We at Gold Buying Training offer a system where you can actually buy gold coins, bars and even jewelry at a discount. For more information about our program please click here
We basically show you how to buy scrap gold and converted or trade it into legitimate gold coins and bars. How to identify fine jewelry in bad shape, fix it and either keep it or re-sale it at a profit. For more information about our program please click here
The difference between knowing what the karat of a gold piece is and not is essential. Regardless of whether one peruses a gold buying career or not, it is a very valuable asset to know, for sure what the karat of a gold piece is.
There is no doubt that is one buys, sells, deals, manufactures and/or trades precious metal, knowing the karat or the percentage of gold contained in a piece is essential. However, many people are not going to pursue a career buying gold or other precious metal but they are going to buy jewelry and/or coins and bars.
More often than not, consumers think they posses pieces that are, for example, 18k, when in reality their pieces may be 16k, 14k, even 8k, which is very unfortunate. I have a very sad example of a lady client who came and sold me her gold. She started telling me stories about each piece and how every piece in the lot was made by her trusted family jewelry. All these pieces where stamped with a 14k stamp, however when I started testing them they were all 10k or less…
These stories are much to common and in our experience most people cannot identify between karats or percentages of precious metal contained within pieces. Just imagine if you could be able to tell exactly what karat a piece really is. If you own any gold, silver, platinum and/or diamonds, it is very important to know the carat of the piece and how much it is worth.
Yes, all these bloggers, reporters, articles, pawn companies, the list goes on and on; trashing the gold buying party, while the gold buying party trashes the pawn company, the jeweler, etcetera. The truth of the matter is that in every business there is good and bad, and in every profession there are people with higher ethical standards than others.
The Gold Party, a new and unique practice whereby friends, family, co-workers and acquaintances get together to have some food, drinks and just enjoy each others’ company by laughing and relaxing. They all bring their unwanted gold, silver, platinum and diamonds to sell.
It is sort of like Tupperware party, except every one walks away with money, which is a great thing.
Fortunately in many cases, the professional precious metal professional is transparent, totally up-front with the host and guests and in many cases they bring with them a scale legal for trade, which is sealed by the Department of Agriculture. Unfortunately there is a problem where some gold buyers and their lower ethical standards and in some cases guests are getting skinned in the process without even realizing it.
While professional Precious Metal Purchasing companies make a decent living while helping people, others just make huge profits by offering horrible prices to their unsuspecting party vendors.
It is important to choose your gold buyer because there are a series of little tricks used to hide the facts underneath the fun of a party; here are some red lights and ideas of what to ask.
A Commission for the Host
This is a win-win situation when done the right and transparent way. In many cases the gold buying company makes an agreement with the host of the gold buying party. Just like any other business, there always are overhead expenses, in fact, jewelry stores or pawnshops have huge overhead expenses, so when they buy gold they have to, first and foremost, cover overhead expenses and make a profit.
Honest Gold Buyers explain the entire process to the host and guests while others hide the commission paid to the host. Most people know and understand that the gold buyer and the host make a profit; it is a business after all.
Without the hostess putting together the party, the gold buying professional would not have had the opportunity to buy all that precious metal, so the commission to the host is an absolutely fair practice and it is a legitimate overhead, business expense.
The Pricing Formula Secret – Fairness
Nobody in the gold buying industry pays 100% of the value of precious metal. It is, after all, a business. The highest price paid in the market, anywhere in the world, is 98.5% of the spot market price. In order to get that 98.5% one must, first of all, be certified and regulated by the government and they have to meet huge weekly quotas.
Every gold buyer, including jewelers, pawn shops, gold buying parties and independent gold buyers, pay a percentage below the spot price of the day. Most professionals pay a fair 70% for unwanted gold, while others pay around 40% to 50% of the actual price. This is not a unique characteristic of gold buying companies. In fact, in many gold buying parties, the professional, in some cases jewelry appraisers, show the guests the price of metals online and explain exactly what percentage they are paying.
Price Publishing – Transparency
In the United States, the standard unit for gold weigh is the penny weigh abbreviated dwt which is a very easy to understand 1/20 of 1 Oz. It is also 1.555 grams. An easy but dishonest practice of some gold buyers is to pay customers the price of the gram but for each pennyweight, thus getting .555 grams for every pennyweight of gold that they buy, an unfair practice that the savvy consumer must be aware of.
It is also important to understand that there are 28 grams in 1 ounce, that is a normal ounce, but there are 31.1 grams in a Troy Ounce. This complexity allows for deception and obscure pricing.
Gold Karats – Value of Gold
Many gold buyers, including pawnshops and dishonest jewelers, have a slick move and that is to tell their clients that their gold pieces are a different karat than it actually is. They may even give a convincing explanation blaming different measuring instruments and different world markings.
The fact of the matter is that scams happen all over. Many dishonest jewelers stamp pieces with a karat but in the moment of alloy creation they add less gold, hence pieces resulting of a lesser karat. Other scammers in the market create special alloys containing no gold at all, they alloy it in ways in which it passes all traditional testing methods and stamp it with very high karat stamps.
The honest and professional gold buyer, regarding whether they are from a gold party, independent gold buyer, jeweler, pawn shop, check cashing store, will return such pieces to the client and advise them to go get them appraised elsewhere.
Some sophisticated tricks are to group together gold pieces of different karats, but then pay based on the lowest karat gold in the group. One must be aware of those practices. If you would like to learn more about how to test for gold, visit our Education Section where you will learn more about precious metal testing.
Low Balling – The good and the Bad
Precious metal professionals with high ethical standards, including experts at gold parties, have respect for the people they deal with. Other gold buyers, including jewelers, low ball their clients, which consists of a numbers game, the game of a haggle. They make a low offer and while some people refuse to take that offer and negotiate others just take it with the lure of immediate cash, which might outweigh the fact that they are getting skinned. Especially if everybody at the party has had a few drink.
A good advice for the consumer is to negotiate and shop around before committing to selling their jewelry.
Gold for Charity
A gold buying party for a cause can be great philanthropy. Some gold parties offer a section of the profits to a charitable organization, which is a beautiful thing. One must be very careful; again there are some gold buyers with low ethical standards. In any case there is always money going to the cause but in some cases less money than it should.
There should always be transparency between the gold buyer, the gold buying party and the host as well as the institution that is going to get charity funds, explain how to find gold prices and what fair percentage is going to go to the philanthropy and how much for the person selling their gold, silver or platinum. In order to avoid people taking advantage of your good intentions, as a way to make you knowingly accept below-market values for your gold.
Some Jewelry is worth more as Jewelry
At a gold buying party, at a jewelers’ or any other gold purchasing business one must sell out-dated pieces, broken and unwanted jewelry with no commercial value other than the weight of gold. Some jewelry is worth more than the sum of its parts due to a combination of aesthetic value and the workmanship that takes to create the piece.
It is a fact that one is probably better off selling their jewelry rather than selling it based on the weight of the metal, selling it as jewelry. However, trying to sell a small lot of jewelry or even a piece of jewelry may result a lot more complicated than one might think. There are several elements which need to be inspected such as the condition of the piece, its market value, competition, taking good pictures and a lot of work that you might not want to engage in.
It is a fact that many gold buyers, including jewelers, pawn shops, gold buying parties and individual gold buyers set aside nice jewelry, which they buy below the market and sell it for huge profits. That is because they are professionals. If you think you would benefit from this trade, please visit our Education section to find out more on how to buy Precious Metals.
The value of Precious Stones
One must really understand precious stones. Professional and honest gold buyers will educate their customer about their stones, especially diamonds. One must understand the value of diamonds and other precious stones. Most diamonds in the world are of less than half (1/2) a carat, which diminishes their commercial value significantly.
It is also very important to understand how stones are mounted. Often times, removing stones is more expensive than what they are worth. Small stones are a bonus and when they actually are worth something, the professional and hones gold buyer will offer a fair price for stones with value.
Technology – The wow factor
Many gold buying experts, including pawn shops, jewelers, independents or at a gold buying party test and weigh gold in front of you while explaining how sophisticated their equipment is. They even explain and teach you how to test and weigh gold yourself.
All of these methods are used by themselves or in combination by some gold buyers with low ethical standards, including gold parties, pawnshops, jewelers, check cashing stores, gold buying places, etcetera.
As marketing campaigns, and because competition for gold is so fierce, some professionals try to bash their competition by writing, advertizing and posting negative facts about their competition. The truth is that every industry engages in such practices, just look at politicians near election times. The truth is that there is good and bad everywhere, some gold buying parties are a reap-off but most pay very nice, fair prices and beat the competition in a unique and fun environment, it is quite an experience.
I was invited to a gold buying party last week; I didn’t have much gold jewelry but brought whatever I had. I was not expecting to get much for the small amount that I had, I only attended as an act of support for my friend. WOW! I could not believe how much I got and other guests as well!
I can’t wait to host mu own gold buying party and get paid just like my friend did! She made a couple of hundred bucks and so did the person who referred her.
Silver is bouncing back. Gold at all time high prices makes some investor’s a bit uncomfortable. The uncertainty of the shaky word economy makes you wonder if gold and other precious metals are going to go up in price. While is it always wise to diversify your portfolio and own gold and other precious metals, it is always advisable to try to pay 65% of the actual price of it. That way you can be certain not to lose money if it drops all of a sudden or, in the best case scenario, make huge profits.
Just like diamonds, watches are included in the precious metal business. There are literally hundreds of thousands of watches in the market today. Most watches have no commercial value in the business of precious metals, however many do. A lot of watches contain some kind of precious metal within the mechanism and it is important to know how to identify the ones that do
Some watches, just like other pieces of jewelry, have value because of other reasons other than the precious metal contained within them. The characteristics that give worth to watches, besides the precious metal contained within can be, estate, age, system, watchmaker, limited edition pieces, special mechanisms, brands, history and much more.
When starting a precious metal or scrap gold business, it is very important to form a relationship with a trusted and reputable watch maker or watch dealer. Like any other business, one must be up-to-date in all aspects of the business by reading articles and continue studying the subject until acquiring enough knowledge to be able to make decisions.
Diamonds are an essential element when dealing with precious metal. In order to understand diamonds, one must understand the 4 c’s; carat, color, clarity and cut, in that order. Like anything else, being able to buy diamonds at a discount can be quite profitable. Mining diamonds, such as cutting, polishing and finishing them is an intrinsic process.
A fact is that in 2009 and 2010 more pre-owned diamonds where purchased in the State of Florida then mired all over the world. That is proof of how profitable diamonds can be. it is important to understand that most diamonds in the world are weigh less than 1 carat, which dramatically decreases its price. Most gold buyers understand the value of small melee and how to profit from small diamonds. They are like “the icing on top of the cake”.