Volatile Market Leads to Gold Rush of Sorts
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The volatile financial markets lead to a gold rush of sorts. Worried people looking for a seemingly safer investment buy up coins of all kinds. But is it a smart move?
Jeremy Kennedy, Kennedy Coin Co. "We sell it we buy it." From silver to gold, coins to jewelry, even thimbles and grills, people are going a little gold crazy right now. And at Chattanooga's Kennedy Coin Company they're cashing out on it...grabbing up gold or silver coins and bars. Owners noticed a significant increase over the last year. Jeremy Kennedy says gold usually does the opposite of the stock market ...so some consider it a sound investment. UTC Economics professor Dr. Ziad Keilany says that might not be the best bet. Still it seems people are willing to gamble on gold. The U.S. Mint temporarily stopped selling the American Buffalo 24-carat gold coin because it can't keep up with demand. So far this year the mint has sold nearly 30 thousand more 24-carat gold coins than last year.
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