The COVID crisis we are experiencing is unprecedented in modern times. Aside from the human toll in fatalities, it has affected nearly every aspect of life as we know it. From government mandated lock-downs to economic disruption on a global scale, it has exposed the true frailty of the engines that power our world. The prosperity of a functioning society is not simply defined by a monetary equation. Fluctuations and elasticity are an inherent part of such a system and typically weathered in stride. But when the life fabric of life is stretched beyond the breaking point, it’s wise to prepare for a potentially unfavorable outcome.
Among the first systemic casualties in this crisis is the economy. The U.S. unemployment rate has soared to 14.7 percent, the worst since the Depression era. While various stimulus packages have attempted to infuse much-needed assistance into the system, the future remains uncertain. In the short-term, these resuscitation efforts may help revive the hardest hit sectors, but there will certainly be long-term ramifications as a result of creating such an influx of currency.
Precious metals are a sound investment, pandemic notwithstanding. Earlier this week gold prices pushed above $1,750 an ounce, hitting a 7.5-year high, and banking analysts are optimistic that prices will continue to rally. As the course of this crisis varies from one day to the next, so do the stock markets. As economic damages mount, a deeper financial restlessness is becoming more prolific. Portfolio diversification is seen as a good practice in nearly all investment circles, and precious metals are definitely high on the list of options. “Don’t put all of your eggs in one basket” is a familiar aphorism suggesting that you shouldn’t concentrate all of your resources in one area, because if that endeavor fails you could be left with nothing.
Why Metro Pawn & Gun?
We will be open from 10am-3pm M-F beginning Monday 5/11/2020 as long as there are no new developments and the Governor doesn't extend the Stay at Home order. Customers in the store will be limited to 3 at any given time. We look forward to meeting our client’s need for precious metals in any form including coins, bullion and jewelry. Be sure to check our site regularly for the most current information in these fluid circumstances.
As always, stay safe!
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