Gold and silver prices have been soaring lately, and people across Utah are paying attention. In Salt Lake City, long lines are forming outside Monarch Coin Corporation as locals rush to trade their precious metals.
Whether they’re experienced collectors or first-time sellers, many are taking advantage of the recent price jump, turning their long-held treasures into a solid profit.
Why Are Gold and Silver Prices Rising?
One of the main reasons for the rise in gold and silver prices is growing uncertainty in global markets. Trade tensions, inflation concerns, and investors looking for safer options are all pushing demand higher. When people are unsure about the economy, they often turn to precious metals like gold and silver, which are known to hold their value.
Even though the Federal Reserve has kept interest rates steady, gold continues to climb. This shows that people are still worried about the future, and many prefer to invest in something they can physically hold, like a gold coin or a silver bar.
Utahns Lining Up to Sell Their Treasures
At Monarch Coin Corporation, there’s been a steady stream of people walking in with their collections. Some have held onto their coins for decades and are now seeing huge returns. One customer, Kim Rimmasch, shared that she bought coins in the 1990s for just ₹3.80 each. Today, those same coins are worth over ₹8,300!
Another customer, Nathan Wixom, said he bought silver around 2019–2020 and has been holding onto it. With the current prices above ₹8,300 an ounce, he feels it’s the right time to sell.
For collectors, it’s not always easy to part with coins they’ve kept for years. But with prices so high, many are finding it hard to resist the opportunity to cash in.
Local Dealers Helping First-Time Sellers
Monarch Coin Corporation is a family-run business that’s seen both experienced investors and curious newcomers walking through its doors. Sarah Thompson, the Chief of Staff, mentioned that more people are being advised to include gold and silver in their financial plans. That’s bringing in a fresh wave of interest.
People are not only buying for profit — some are also using these metals to protect their savings. With the stock market always shifting, physical assets like gold and silver feel more reliable to many.
What Do Experts Say?
Experts believe that the market could swing in both directions. Some think prices might drop to ₹5,800–₹6,600 (around $70–$80 an ounce for silver), while others are predicting it could touch ₹12,400 (about $150) in just a week. That kind of movement is exactly what excites investors — and also what makes them cautious.
Gold has already crossed ₹4.3 lakh per ounce (over $5,200), and silver has crossed ₹8,300. Whether you’re selling or buying, it’s important to understand that these prices can shift quickly.
Is Now the Right Time to Sell?
If you’ve been holding onto gold or silver, this could be a great time to sell — especially if you bought it at a lower price. However, prices can go up or down, so it’s wise to do some research or talk to an expert before making a decision.
Some people are holding on, hoping for even higher prices. Others are happy with the current profits and are selling now. Either way, the precious metal market is buzzing, and many Utahns are cashing in.
