The Old Pawnbroker's Blog

News for Pawnbrokers and Precious Metals Dealers

Archive for the month “November, 2014”

No Worries Mate.

This article was written two days before the latest slump in the price of precious metals. I think Mr. Greenspan knows what he is talking about though. For those of us who buy precious metals scrap, a drop in price only means that we can get more metal for our money. Ten years ago on November 1, 2004 the spot price of gold was $429 per ounce. It closed Friday at about $1174.  Am I worried? Nope. It’s a good buying opportunity.

http://www.kitco.com/ind/Merk/2014-10-29-Greenspan-Price-of-Gold-Will-Rise.html

 

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