Gold Prices Plunge - Are You Saying Oh No Or Oh Well?

With the gold price dropping to the upper $700 range the question is where will it go next? If you purchased investment gold when the gold price was around $900 you must be sweating bullets by now and are most likely saying..."Oh No!"

But, some gold investors are positioned in a way that they can say, "Oh Well", even if the price were to drop to the $500 levels of 2006.

How can they be so calm? Let me explain.

It has to do with the way you buy your gold. If you buy at full spot price, you are setting yourself up for disaster. If you buy it at 50% or lower than spot price you have a far less possibility of risk and will not have to sweat when the gold price takes a plunge.

You may wonder how in the world you can buy gold at 50% or lower than spot price.

Read on and I'll tell you!

In 2007 alone there was over 1000 metric tons of gold recycled as scrap, about 30 billion dollars in value to be exact. This recycled gold came from people who sold their unwanted gold items such as old jewelry, class rings, scrap dental gold, watches etc. People you may even know and most likely people right in your own neighborhood, is where it came from.

Most of this scrap gold was purchased by pawn shops and coin dealers, who pay only a fraction of spot gold price when they buy. But, a certain percentage of this scrap was purchased by investors in gold, and at the same low prices that pawn shops and coin dealers pay.

The process is simple. Through the use of business cards, or some type of promotion, get the word out that you buy scrap gold. After you buy several ounces just ship it off to a precious metals refinery and collect you payment in the form of gold bullion bars or coins, whichever you prefer.

The result, investment gold at prices far below spot gold price.

Then if you wake up one day, check the gold price and find it dropped to $500, you can say, "Oh Well."
Jeff Sneeringer is the author of several e-books on buying physical gold below value, for investment and for profit. For over 20 years he's been buying precious metals below 50% of spot price. His most recent e-book, "How To Buy Gold Low", reveals the very same methods he uses. In regards to what is happening in the financial world today, Jeff always says, "The new golden rule is - He who has the gold rules, especially when you buy low."

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