Gold prices have reached an all-time high, trading at $3,200 per ounce. This trend has led to a heightened demand for buying and selling gold in Pensacola, Florida.
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Stephanie Dodson, manager of Emerald Coast Coins, said, “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 are definitely at the top of that list.”
Dodson explained that investing in precious metals has both pros and cons.
#MarketAlert | Gold prices soared above $3,200 as the trade war deepened and the dollar weakened. #Gold #Commodities #MarketUpdate pic.twitter.com/jEfIAfLyKH
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“It’s something that you can keep close to you, in your pocket, or safe,” she said.
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“The cons, just like with anything else you invest in, there’s always the chance that prices will drop and change.”
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However, she asserts that in times of economic downturn, gold and silver tend to retain value, presenting a lower risk compared to stocks and other investments.
Gold demand spikes in Pensacola
Jarrod Dawson, a financial advisor with Raymond James in Pensacola, noted, “The market hates uncertainty more than it hates bad news.”
Both Dodson and Dawson recommend diversifying portfolios and consulting with professionals to identify the best investment strategies. Dodson expects the trend of brisk business at the coin shop to continue. “As long as these tariff wars persist, this is likely to go on for a while,” she explained.
The surge in gold prices has created opportunities for both buyers and sellers. “We have some people who are looking for short-term gains, hoping to make a quick buck, and others who are in it for the long haul,” Dodson said. “They plan to hold onto it and cash in when they retire to live their best life.”
