People assume that commodities markets are risky places, driven by professional investors or fund managers. Most people assume gold and silver price today and other precious metallics have little to nothing to do. Although it would be foolish to just jump in to the gold market without some practice and training, the average worker should still keep an eye on gold prices and seek out ways to capitalize on today’s record setting values. Gold hit its highest price ever in November 2009. Experts believe gold will continue rising even if the world’s biggest economies struggle.

The following are five ways that you can profit from an increase in gold prices.

Your tax-sheltered annuity and individual retirement account have limited control. You should consider moving your assets into precious metals mutual funds. The prices of gold have temporarily dropped but will rebound quickly to sustain their value. Recent history shows that precious metals mutual money are a good investment because they have tripled the price in just a few short years.

For cash, you can sell your old or damaged jewellery that is gold. You’ve probably seen ads on TV and the internet promising you big cash for your vintage jewelry. Although they may exaggerate the value and safety of your jewelry, the ads are fundamentally legitimate: you will receive handsome compensation if you sell your gold jewelry. You will get significant rewards for silver and the highest for platinum.

Pawning or selling your old gold is another option if you require quick cash and are tight on assets and credit. You must be open to the fact that retail gold prices differ from wholesale gold, but you can still get the cash your need without spending a lot of interest on payday loans or credit card advances.