What's behind all the Cash for Gold commercials lately?

[KAOSkins]

There must be something behind it. American conspiracy theorists demand to know! Every other commercial relates to sending in your 'scrap' gold. Is it just TV based pawn shops or is it investors with an agenda? Or what?

MD5 what up?

[SolidSnake84]

i dunno, but they are using celebrities now. Just the other day in our movie theater we saw an advertisement for that with MC Hammer on it....how ironic

[Rdskn4Lyf21]

The dollar is continuing to loose it's value and other countries have even changed what they are trading in from it.

Gold has more value around the world.

(I think that's right )

[aREDSKIN]

Well, buy it at $400-$500 an ounce and sell it at $800-$900 an ounce seems pretty straight forward to me.

[KAOSkins]

Well, buy it at $400-$500 an ounce and sell it at $800-$900 an ounce seems pretty straight forward to me.

Agreed (I suspected they were paying far below market), but why all the sudden? If that were the plan wouldn't they have been doing this all along?

[Smoot Point Really]

I've been wondering the same... I try ignoring it.

[twa]

China /SA(and others)have been aggressive in increasing it's gold reserves.

[HighOnHendrix]

Simple. The price has been going up for the last ten years. In 2000 it was under $300/oz. It has now risen to nearly $800/oz.

[GibbsFactor]

It's actually $952 an ounce, up from around $600 an ounce two years ago.

Who knows how much they give you but I bet it ain't $952 an ounce. They'll probably give more like $300 an ounce claiming they have to melt it down and transform it to pure gold.

[Corcaigh]

Yeah ... bad economy so people are looking for cash, very high current gold price meaning the margin for the companies processing the gold is huge.

[Stew]

its an easy way to make money off of stolen goods. Send it in, get your check, the stolen proporty is melted down 48 hours later... I got a lock box for my jewelry the minute those commercials started flooding the tv stations. it is the catalyst in some young kids brain to go and steal a bunch of necklaces from peoples homes and send them in for a quick buck where the evidence will be destroyed. I don't like it.

[Thiebear]

Why cash a check for 30%
when you can melt gold for 200%

[Peeping Wizard]

Gold has been a strong investment for awhile. It just brokers trying to make a buck.

It cracks me up when they talk about the "intrinsic value" of gold. It really is no different than paper currency. It only has a value because we have assigned it one.

When the **** hits the fan, gold coins would be as worthless as your online bank account. Food, cigs, booze, diapers and medical supplies would be the only things with real "intrinsic value."

[Corcaigh]

Hold has provided a return recently but it's driven by nothing more than speculation. There's no harm to have some precious metals as part of a diversified portfolio, but thinking gold is some kind of safe haven is crazy.

http://www.time.com/time/business/ar...885217,00.html

[deejaydana]

economy in the toilet. They're simply trying to take advantage of people desperate enough to pawn their gold. Nothing more...