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Why Gold Remains Hot

December 2, 2009 by Administrator · Leave a Comment 

why-gold-hot Why Gold Remains Hot

San Diego gold investors and gold sellers take note that Business Week has an excellent interview online with commodities guru Jim Rogers, creator of the Rogers International Commodities Index, wherein he talks about gold’s current popularity.

Here is an excerpt:

MARIA BARTIROMO

Gold, as you know, hit an all-time high today, with the Russian central bank buying bullion. How high can gold go?

JIM ROGERS

Well, I own gold and I have for a while. How high can it go? I fully expect it to be over a couple thousand dollars an ounce sometime in the next decade—I didn’t say the next month, I didn’t say the next year, I said the next decade—because paper money around the world is very suspect. But right now everybody’s bullish on it, so I don’t like to buy things when that’s happening. But I’m not selling under any circumstances.

What’s behind the runup? Has buying by the central banks changed the equation here? Or is this still a demand story?

Certainly a demand story because, as I said, everybody’s printing so much money and people around the world are worried about that. But you also have central banks, which five years ago were selling gold, now buying. So that’s a huge shift in the marketplace. Central banks are like lots of other people—they just follow the crowd. There are probably better commodities to buy than gold, but you can’t tell that to central banks because they’ve got gold on the brain.

To read more, go to: Why Gold is Glittering.

The Buying & Selling Gold Frenzy

December 2, 2009 by Administrator · Leave a Comment 

pawn-sandiego The Buying & Selling Gold Frenzy

The Associated Press is reporting that gold’s remarkable run has implications far beyond smart investors. In New York’s diamond district, more people started showing up late last year to sell their gold, and the crush hasn’t let up Read more

Pawn Shop Sales Point to Recovery?

August 31, 2009 by Administrator · Leave a Comment 

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WALB News in South Georgia is reporting on a new trend that we have also seen occurring in San Diego; that is, signs of an economic recovery are showing up at some pawn shops. The report from the peach state rightly mentions that pawn shop activity is often a good indicator of the economic pulse because many people use them like banks for loans or cash advances. Read more

Gold Buying Parties

March 25, 2009 by Administrator · Leave a Comment 

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National Jeweler reports that the tough economic times, in combination with high metal prices, have people around the country gathering at gold parties to sell their old gold jewelry.

Folks in the media have been comparing the gold-buying parties to recession-era Tupperware parties, resulting in cash for participants, who are choosing to clean out their jewelry boxes as the price of gold rises above $900 an ounce.

According to news reports, the parties begin with guests bringing unwanted jewelry, watches and coins to a host’s house. The host, with the help of companies that are mining the trend like MyGoldParty.com, the Gold Refinery and Nassau Buyers, then tests the gold content and weighs the items, and pays out a certain percentage to guests based on the price of gold that day.

A percentage also goes to the party host, the party representative and the refinery that eventually ends up with the gold and melts it down, according to news reports. In addition to much-needed money, the parties also provide a safe haven, and a social outlet, for consumers looking to cash in on high gold prices but unsure about entering a jewelry store.

According to an Associated Press report of a gold-buying party held in Granby, Conn., one participant said, “It’s terrific because it’s a little bit intimidating to think about walking into the jewelry store, even though they may be heavily advertising it, and, you know, to someone that you don’t know and turning over your valuables to them.”

While gold parties can indeed be fun, San Diego consumers should be aware that the buying offers you get at such parties will most likely be less than at a reputable San Diego gold buyer, since the person who is throwing the party is taking a percentage off the top, which means less cash in your pocket.

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If you decide that a gold buying party isn’t for you and you plan on approaching a San Diego gold buyer with your gold jewelry, then you want to be prepared. Before going to a potential buyer, read this article: 7 Questions to Ask Your Gold Buyer

The Man Known as JAR

December 27, 2008 by Administrator · Leave a Comment 

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Joel Arthur Rosenthal affects to be known by a single name: JAR (no periods). His shop in Paris’ Place Vendôme has no display window, no regular hours. It does not advertise and opens its doors to only a select few, including Elizabeth Taylor, Elle Macpherson, Barbara Walters, Ann Getty, Mary Pinault and Jo Carole Lauder (and reportedly Marie-Josée Kravis, Marella Agnelli and Princess Firyal of Jordan).

According to a report by Forbes, the craftsmen in Switzerland and France who make is jewelry produce only 70 to 80 pieces a year, each of them one of a kind and many designed with a particular buyer in mind. JAR reserves the right to refuse to sell an item if he doesn’t think it will look good on the intended wearer. His creations often sell for twice what the first buyer paid.

Rosenthal graduated from Harvard in 1966, then moved to Paris. He dabbled first in scriptwriting, then needlepoint, opening a tiny shop where he experimented with unusually colored yarn. Its clientele included designers from Hermès and Valentino. Rosenthal one day was asked if he could design a mount for a gemstone. That sent his career in a new direction. After a brief stint as a salesman at Bulgari in New York he returned to Paris in 1977 and started designing pieces that relied at first on inexpensive stones like coral, moonstone, and minute colored diamonds.

He focused on pavé, a technique for setting small stones so close together that they look paved with jewels. His settings are so finely wrought as to be virtually invisible, and gradations of color progress from subtle to vivid. Unlike other jewelers, he uses a dark metal alloy for the settings to highlight the gems’ color.

Only twice has Rosenthal displayed his jewels to the public, most recently in London in 2002. Four hundred pieces lent by 145 JAR faithful were crowded into small vitrines. He insisted that the lights be dimmed and that flashlights be given to his guests, who groped and gaped their way from case to case.

Considering how hard hit the Beverly Hills community now is by the current economy, you just might find the unthinkable, a JAR piece in a high-end pawn shop. If you do, and happen to have an unusually large amount of money to spare, a JAR piece would certainly be a glamorous piece to add to your investment portfolio.

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If you think we were just joking about finding a piece of JAR jewelry at a Beverly Hills pawn shop, we really weren’t. The pawn shop industry in exclusive California neighborhoods is doing gangbuster business. Read about it at: Beverly Hills Pawn Shop Sees Surge.

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