Los Angeles CA, August 24 (Tangible Investments) by James O’Dell Precious metals prices dipped sharply in early trading on Wednesday with Gold down 0.67 percent to $1,329.20 an ounce after easing $1.00 or 0.08 percent on Tuesday to close at $1,338.10 an ounce.

The price of Silver is down 0.53 percent to $18.74 an ounce, after easing $0.08 or 0.40 percent on Tuesday to close at $18.84 an ounce while the Gold/Silver ratio, the measure of the number of Silver ounces needed to buy an ounce of Gold, rose to 71.02. Platinum is down 1.33 percent to $1,091.30 an ounce andPalladium is down 1.17 percent to $691.30.

Gold dipped to a new low for the week in early trading on Wednesday as U.S. economic data was mixed once again. While new U.S. home sales rose 12.4 percent to 654k in July, well above economists’ expectations of 580k, the Richmond Fed manufacturing index posted its worst slump ever.

In the meantime, investors remain sidelined ahead of the annual gathering of central bankers in Jackson Hole, Wyoming, on Friday. Fed Chair Janet Yellen is scheduled to address the symposium and her speech will be closely watched for any clues on changes to future interest rate policy.

Meanwhile, with the price of Gold up more than 26 percent, so far this year, unwanted jewelry and coins are being given new life. Historically, more than a third of the global bullion supply comes from recycled metal. In fact, nearly all the Gold ever mined still remains in one form or another. After hitting an eight year low in 2015, data provided by the World Gold Council (WGC) show the scrap industry is making a comeback.

When prices were lower, we struggled to get enough material to meet demand. Now we’re seeing double the volume we did a year ago, said Tony Dobra, of Baird & Co., one of the UK’s largest refiners. Baird is currently planning a 50 percent expansion at its 20-ton-a-year refining plant, to keep up with the growing supply.

Despite the improving U.S.-centric fundamentals, we expect investors to remain long in Gold given the need to insure against wild cards into the year, namely the growth risk from Brexit into 2017 and the upcoming November’s U.S. presidential elections, said OCBC Bank’s Barnabas Gan, in a note.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty, and at Tangible Investments it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.888.655.9255 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. You may also wish to click here to check out our eBay store. Tangible Investments is the leading buyer of Rare, Gold and Silver coins, art, antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost.