Interest in dealer gold high among buyers, sellers

Wednesday, March 3, 2010
Gold remains attractive to both sellers and buyers.
- By Bruce Sands
The ongoing strength in the dealer gold market is being fueled by a mix of economic uncertainty, increased industrial activity in some countries and a growing middle class in emerging nations like China and India.

Prices have enjoyed a run-up for much of the past decade, in part because gold has long been seen as a traditionally safe option for investors wary of trusting their money to a shaky stock market.

The strength in gold investments has also led to more people taking advantage of high prices by selling off possessions, with a popular cable television show about a Las Vegas pawn shop apparently helping to fuel the public's interest in precious metals.

"Because of the recession and increasing gold speculation by investors, gold is at an all-time high. We are seeing lots of people realize that now is a great time to sell their gold. As a result, we are paying more for gold than at any time in the 30-year history of the company," Maryland pawn shop owner Steve Kottman told the state's Delmarva Daily Times.

While prices are high for people selling gold, many economists expect precious metal prices to continue to rise even more in light of current economic conditions.


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