Silver as an Investment

EzyCash Silver Buyers

SELL YOUR OLD SILVER JEWELLERY, SCRAP SILVER, SILVER COINS, SIVER BULLION, STERLING SILVER FOR CASH TODAY!!

Well we have seen some very interesting movement in the price of both Gold & Silver in the last two months, both prices surging forward and now dropping in spot price making selling a very real option for a lot of people.

One question I get asked just about every other day by clients and customers being a precious metals dealer is “what’s happening with the gold price” and “will silver continue to drop or will it continue to climb”.

This is certainly one question I couldn’t hazard a guess to, but I am quite often reminded of one of my old business associates philosophies, he would say to me on quite a regular basis “ what goes up must come down” and if history has taught us anything this is absolutely true, another thing he used to say is “never be ashamed of taking a profit”.

This is one thing I will quite often tell my clients when selling precious metals or bullion (gold, silver, palladium and platinum) is always take a profit, if you can sell today for a profit then do it, everyday you make a profit is another day you’re not making  a loss.

This theory can be applied to the selling of Silver scrap and silver bullion. With the latest highs in silver prices, people are cashing in their old silver scrap jewellery, broken silver jewellery, old sterling silver service ware.

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Mining Gold and Silver isn’t an Easy Job

Prices for silver have reached record levels in the past year which is why it’s an excellent time to bring your silver into EzyCash Gold Buyers of Panmure, Auckland.  EzyCash Gold Buyers always pay top cash prices for silver jewellery, silver coins, silver bullion, broken silver and scrap silver.

In April last year the price of silver peaked at US$49 a troy ounce.  Currently the spot price of a troy kilo of silver is around NZ$1214 – an increase in the silver price of over 100% cent in the past five years.

This increase in the price of silver is due to a shrinking supply of silver around the world.  And this silver supply is set to shrink slightly further due to an announcement by the Mining Health and Safety Administration in the US.  The Administration has ordered the temporary closure of the silver shaft at the Lucky Friday silver mine in Mullan, Idaho.

The silver mine, owned by Hecla Mining Company, will be closed for maintenance and cleaning until early 2013.  Over time, sand and concrete material has built up in the silver mine and must be removed by power cleaning to prevent future hazards. Continue reading

The Topsy-Turvy Price of Gold

The rise in the price of gold over the past few years is almost unbelievable.  If you look at a graph that charts the price of gold over the last 10 years you can see a meteoric rise in the gold price.

In 2002, one troy ounce of gold would sell for around US$300.  Apart from a sharp downturn around 2008 when the financial crisis first hit, the rise in the price of gold has been fast and consistent.

Gold is now trading at over US$1700 per troy ounce.

Silver has also mirrored the rise in the price of gold over the past decade.  2002 saw the price of silver hovering around US$5 per ounce.  Nowadays the price of silver is well over US$30 per troy ounce. Continue reading

EzyCash Gold Buyers
Phone: (09) 570 1511
Fax: (09) 570 1527
ezycash@xtra.co.nz

30B Jellicoe Road
Panmure, Auckland East