ROCHESTER, Minn. – Mike Demarino, the proprietor of Med City Coin & Bullion, has observed a notable trend: an increasing number of individuals are opting to purchase gold rather than sell it. Demarino reports a steady stream of approximately 40 customers per day frequenting his establishment over the past month.
In light of the volatile nature of the market, Demarino advocates for investments in precious metals. “I’ve always believed in the wisdom of holding onto gold and silver. They’ve withstood the test of time for thousands of years. Regardless of the fluctuations in cryptocurrencies or paper currency, gold and silver remain steadfast,” expressed Demarino.
He further emphasizes the reliability of precious metals compared to other forms of currency. “People are actively withdrawing cash from their savings accounts due to a lack of trust in the stability of the dollar,” Demarino noted. “They’re converting these funds into precious metals as a means of safeguarding their wealth. In an increasingly unpredictable world, individuals seek the security offered by gold and silver holdings.”
Financial analysts echo Demarino’s sentiments, forecasting a surge in the price of gold to reach $3,000 within the next six to 18 months.