Cash-for-gold as gold prices surge frenzy fades Analysis

Cash-for-gold as gold prices surge frenzy fades Analysis

2011 Canadian Maple Leaf $50 Gold 1 oz. (.9999 24k).

$1,840.02

2008 Perth Mint Lunar Year of the Mouse 1 oz Silver (.999 Fine)


2011 Perth Mint Year of the Rabbit 1 oz Silver 99.9% Pure!




The fact that scrap is not reacting as strongly as one might have expected to the stimulus of higher prices suggests those higher prices are more sustainable and price growth is easier," says Philip Klapwijk, executive chairman of respected metals analytics firm GFMS Ltd, a unit of Thomson Reuters.
Gold prices breached $1,800 an ounce for the first time this week, having almost tripled from its 2008 lows of $680.
"The easier-to-let-go stuff has been let go, so it gets progressively more difficult given the move in the price to stimulate the same growth in scrap," Klapwijk said.
In 2009, scrap supply surged by 30 percent to a record as consumers rushed to sell anything they had, both to turn a fast buck on a booming market and to cushion the blow of recession.
In the years since then, large amounts of recycled gold flooded the physical market. But growth has slowed sharply as people either run out of things to sell, or wait for higher prices. Klapwijk expects recycled gold to grow by only about 5 percent this year.
CASH-FOR-GOLD PART OF U.S. CULTURE


US To Trade Gold Reserves For Cash Through Cash4Gold







People don't have their parents' or grandparents' gold anymore, they've sold it," said Luna. "We are not seeing the same amount of volume that we saw before, every day there is less, of both gold and silver."
And in the country which consumes more gold than any other, India, where gold jewelry is a central part of the culture from weddings to holidays, reselling gold has become a rarity.
"The selling crowd has disappeared," Daman Prakash Rathod of gold wholesaler MNC Bullion said by telephone from Chennai.
Watching friends and neighbors rue their decisions to sell at $1,000 or $1,200 or even $1,500 an ounce, he reckons other Indians have learned a lesson.
"The excessive scrap that used to come a few years ago has stopped, and people who have sold must be cursing themselves for doing so at lower prices.

10 Reasons to Trust Cash For Your Gold




Are you wondering what to do with your precious metals you no longer want?
It couldn’t be easier to get cash for gold within 24 hours. Here is what you need to do to sell gold with us:
Find the correct carat of your scrap gold, silver or platinum and weigh it.
Use the online calculator to the right to find out what your precious metals are worth to us.
If you’re happy with the estimated offer, fill out our simple sell gold description form giving us the required information on the items you wish to sell.
If not benefit from our Cash My Gold price guarantee and ensure you get the best rate. If you can prove that our main competitors offered you a better rate we guarantee to beat it!
Post scrap metals to Cash For Your Gold via Royal Mail Special Delivery (insured).
Receive payment within 24 hours via FPS or order a cheque.

Since we only buy scrap gold, silver and platinum over the internet, our overheads are very low compared to high-street shops. In turn we can offer the best gold price per gram for your unwanted precious metals. To find out our silver, platinum and scrap gold prices refer to the calculators.
Who are we?
CashForYourGold.co.uk is a part of Group International, one of the most dynamically expanding precious metals traders in the UK. With offices in Wolverhampton, we offer the highest level of customer service and satisfaction that our clients have come to expect from us with nearly 20 years industry experience and knowledge.
Our friendly and knowledgeable staff are always happy to offer advice and assistance whether over the phone or at our premises.


No comments:

Post a Comment