"Buying Gold"

[porchy44]

Driving down the street of my town tonight. A person holding a sign "Jewlery store buying gold". Drive another 100 yards, Another person holding a sign, "Buying gold Dunkels Diamonds, Drive another 1/2 mile. There is a store dedicated to "Buying Gold". Drive another 1/2 mile down the road, another store dedicated to guess what ? "Buying Gold". It occurrred to me in just a few years how these stores have popped up.

Is this a sign of worse economic times to come ? (working off the premise that gold is bought during bad economic times).

[pandy]

The more people that open stores buying gold the closer gold comes to a burst bubble. I'm waiting for the wild speculation, say gold goes up two or three hundred dollars in one day, then drops a$100, then shoots back up...until, "pop".

[Shemp Howard]

The more people that open stores buying gold the closer gold comes to a burst bubble. I'm waiting for the wild speculation, say gold goes up two or three hundred dollars in one day, then drops a$100, then shoots back up...until, "pop".

“Buy, buy, buy! Oh, everyone's buying? Then sell, sell, sell!" -- Al Czervik

[lamboguy]

the sick part of this story is that these places are buying lots of gold and literally are stealing it from their customers. if a guy walks into one of those cash or gold stores they are lucky to get half the true value of the gold. its just the way things work unfortunately, when gold finally makes its move no one is going to own the stuff, meanwhile all i hear about every day is how many people are selling gold and how the gold bubble burst. those people are all flat out wrong.

[pandy]

If you go to a reputable jewelry store you get a fair deal, but you're right, these online places and little booths in malls are taking advantage of people. I sold some gold at a jewelry store that's been in business for decades and was very satisfied. I wasn't even using the gold jewelry, I took the money and bought something nice for myself that I use a lot more often.

[lamboguy]

i have a route where i buy gold every day from jewelry stores. i pay 90% of spot. i can't believe the amount of gold those jewelry stores are buying. they can't sell anything in their stores these days. the only people that are buying jewelry come from either india, or china. they buy everything these days. the RAP sheet for diamonds has gone up 50% in the last year while gold has declined roughly 15% in the same time period.

[DJofSD]

There are two stores I have seen recently open that are in the business of buying gold. This is not any different than back in the 1920's when even shoe shiner's had stock buying tips.

[lamboguy]

There are two stores I have seen recently open that are in the business of buying gold. This is not any different than back in the 1920's when even shoe shiner's had stock buying tips.
oh yes there is, the public here is NOT BUYING GOLD, THEY ARE SELLING IT

[sammy the sage]

You can PRINT more paper...just saying