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“Cash for your old unwanted gold”


Sliopjbsail

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A few years ago there were no end of adverts on tv, online, radio and even posters in town saying to send in your old gold jewelry to these Cash For Gold places. Recently these have started popping up again. Do they know something? Are they trying to grab all the gold now because the price is going to go up? Is it a brexit preparation? 

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Gold break the $1400 mark starts to head $1500 you will see a lot more of these adverts.

Several sentiments in the market today, one we now entered a new bull market, two going see $1,500 oz Gold before major selling pushes the prices down, three PMs over the course of this year/next will go back to last years lows and test these prices again. As long as we continue to see the price of gold climb it becomes more profitable for these firms to advertise Cash for your old unwanted gold.

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Could be many reasons, but they are all bullish;

The smart money getting in early. 

A way to mobilise more gold supply without raising prices (large spread on scrap offer to spot). 

Preparations to take advantage of some negative event that will see hard up folks willing to part with their wealth at a discount (brexit, more likely recession). 

Apparently when governments start selling their gold reserves, the bottom is in. The UK did it last time (so called Browns bottom), Canada did it this time perhaps. I hope we get that promised low before it goes off.

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11 hours ago, Sliopjbsail said:

A few years ago there were no end of adverts on tv, online, radio and even posters in town saying to send in your old gold jewelry to these Cash For Gold places. Recently these have started popping up again. Do they know something? Are they trying to grab all the gold now because the price is going to go up? Is it a brexit preparation? 

I don't think it's brexit prep, more like praying on people that believe the government created scare stories and think there will be money/benefit issues in the next few months. 

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