The Old Pawnbroker's Blog

News for Pawnbrokers and Precious Metals Dealers

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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