FourFour Two: How precious metals can be used to make more money
A new article shows how precious metals such as gold can be sold for as much as $5 billion a year, and even more.
In a report released today by the US Securities and Exchange Commission, the agency said it had identified at least $6.6 billion in potential market value for these commodities since 2013.
Gold was one of the metals highlighted by the SEC report.
The report found that since 2013, there has been an explosion in the market for precious metals that is now worth more than $7.2 billion.
The agency says there is no doubt that this surge is fueled by the fact that the price of gold is rising.
“Gold is a highly traded commodity,” said Mark DeWitt, the SEC’s acting commissioner.
“It has been for decades, and there is an enormous amount of speculation about its future value.”
But gold, of course, has been around since prehistoric times.
It was first mined in China by the Han Dynasty in the 4th century B.C. But it’s only recently that gold has begun to gain prominence in the West.
“The rise in the value of gold over the past five years is a direct result of the global financial crisis, which has led to an enormous spike in demand for gold, with prices increasing over the last year,” the report said.
And while there are still many reasons why the value has gone up, the rise is partly a result of “increases in demand, rising prices, and the emergence of new products,” it said.
“This boom in demand has resulted in a boom in the number of gold miners, who have become increasingly well-paid for their services.”
In the past year, China has become the biggest gold producer in the world, and it’s not just China.
“In the past 10 years, the global demand for precious metal has surged by a factor of two to three,” DeWick said.
It’s not clear how much of the market is driven by the financial crisis and how much is driven solely by demand.
The SEC also found that gold miners in the United States were paid about $3.4 million a year in 2013.
DeWett said that despite the increase in demand over the year, there’s still a lot of room for the gold price to go up.
“As the price rises, the demand for these precious metals continues to rise,” he said.
If you’re looking for the cheapest way to get gold, DeWetts suggested using a credit card, a bank account or even an exchange-traded fund.
“You can buy gold at a discount for the amount of money you’re willing to spend.”