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Gold hits record value despite bear market: Should you sell?

May 24, 2013 Posted by admin

By Peter Kevorkian, United Coin Precious Metals

Gold Jewelry Buyer in La Jolla

Investors everywhere have been talking about gold prices, and with a bear market to boot, consumers are left scratching their heads: Is it time to sell my gold?

Despite the naysayers who predict the use of gold may decline, reports on actual gold use may prove there is a light at the end of the tunnel for the commodity. According to a report at Forbes, the fabrication of gold jewelry worldwide has increased 12 percent year-over-year with 551 metric tons used in the first quarter of 2013, hitting a record value of $28.9 billion dollars.

And despite a dramatic decline in the value of gold on the comex, an increase in demand has nonetheless put gold in a positive spotlight. Although the demand is largely limited to China and India, the United States is, for the first time in seven years, seeing an increase in its year-over-year demand of gold jewelry.

According to the World Gold Council, the demand for gold jewelry has grown by 5 percent in America, reaching an estimated value of $986 million, indicating the first U.S. increase in demand for gold since 2005.

The World Gold Council added that current trends are “a further positive sign of recovery in the U.S. economy, coinciding with a correction in the gold price over the course of the quarter.”

So when it comes to selling your gold pieces, now may be the time to capitalize on its easy sale. As for its gold commodity counterpart, talk to a financial advisor to understand if selling is the best move for your portfolio.

Gold in your possession such as watches, rings, bracelets, necklaces or earrings can be easily sold. Your jewelry doesn’t have to be current, in good repair, or completely intact – United Coin and Precious Metals, a gold buyer in La Jolla, will accept your baubles in any form.

To get the most for your jewelry, these 3 tips will ensure you get the top dollar for your precious metal.

Know Your Buyer

Be wary of selling your gold online or over the phone with any of the so-called gold buyers. Although many of these gold buyers can be legitimate, your best bet is to deal with someone locally. Some gold buyers have issued as little as $15 for real gold jewelry, and they won’t offer refunds 10 days from the date of check’s cut date, making for a bitter and unwanted deal. Work with an actual place of business instead. United Precious Metals is a certified gold buyer with thousands of satisfied clients and one of the best reputations for buying jewelry in the greater San Diego area.

Know the Value of Your Gold Piece

Despite what many gold buying campaigns tell you, over 98% of gold jewelry purchased finds its way into the melting pot. Knowing this is important in order to have a good understanding of what karat or purity your gold is along with an idea of what it weighs. At United Coin Precious Metals, we work with you so you have a complete understanding of the value of your jewelry. A simple formula to help you determine the value of your unwanted jewelry would look like: (Spot Price) X ( purity or karat) X (weight in grams).

Know the Price of Gold

It may be a good idea to know the market price of gold before selling your jewelry. That way, disreputable gold buyers will stick out like a sore thumb if they misquote your rate, and you’ll know to take your business elsewhere.

For more information on selling your gold pieces, to get current precious metal pricing, or for more information on jewelry buying in La Jolla, log onto http://unitedcpm.com/ or call 1 (858) 412-6462.

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Article source: http://www.lajollalight.com/2013/05/23/gold-hits-record-value-despite-bear-market-should-you-sell/

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Precious metals not included in state’s regulation – WATE

May 23, 2013 Posted by admin

By SAMANTHA MANNING
6 News Reporter

KNOXVILLE (WATE) – The Tennessee Department of Agriculture monitors scales for products including produce, meat and fuel, but the agency does not monitor precious metals.

When consumers sell gold or other jewelry, the scales are not certified by the state.

Owner of Fagan Jewelers in South Knoxville, Ron Fagan, said in order to get an accurate estimate, a business must have a scale from a reputable supplier.

“You need a quality scale, something that you can depend on,” Fagan said.

The Department of Agriculture said it does not have the manpower or the funds to oversee scales for precious metals.

“Not knowing the inventory in the state, we wouldn’t know how many field staff we would need,” said Jimmy Hopper, assistant commissioner in regulatory services for the Department of Agriculture. “If we chose to devote some resources to testing precious metals scales or any other item that we’re not doing now, it would have to reduce significantly what we’re testing now.”

Fagan said he doubts state oversight would make much of a difference anyway because of the large number of locations selling and buying gold.

“I just don’t see how they could ever regulate every store to make sure they’re being honest one day or every day,” Fagan said.

6 News tested several gold chains and jewelry at Fagan Jewelers, and the weight came out to 16.7 grams. The same result was shown in three other Knoxville locations.

Fagan said there are warning signs for customers to be aware of when selling gold.

For one thing, Fagan said a customer can call ahead to see the amount a shop is offering to pay per gram of gold that day.

Fagan said, if a store tells you they cannot give you a quote until they see the gold, it is not true.

“If you have 14 grams of 14 karat gold, that’s what you have,” Fagan said.

Fagan also said transparency is key.

Fagan said shops should conduct an acid test on the jewelry in front of the customer to determine the karat.

“If a person won’t show you what they’re doing in a store that you’re in, they won’t let you see how they came to that conclusion, then you need to get your gold and leave,” Fagan said. “It’s really up to the individual to deal with somebody they can trust.”

Article source: http://www.wate.com/story/22401310/precious-metals-not-included-in-states-regulation-of-weight-and-measure

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Jewelers opposed to pawn ordinance changes – Post

May 22, 2013 Posted by admin

A group of Rochester jewelers and coin dealers is not happy about a proposed expansion of the city’s pawn ordinance.

The ordinance now applies only to pawn shops, of which there are two in town. But under the proposed change, which Rochester Police Sgt. Eric Strop recently presented to the city council, the ordinance also would apply to businesses that purchase jewelry and other valuable items from customers.

The ordinance would require businesses to report daily all of those transactions, including detailed descriptions of items and their serial or identification numbers, along with photos of the items and the people who sold them. The businesses also would have to obtain identification information from the customers.

Pawn shops electronically enter the information into a database via a system used by the police department. The software is free, although the pawn shops pay $1.50 for each transaction they enter.

The police use the database to track down stolen property.

The types of businesses included in the proposed ordinance are: jewelers, coin dealers, in-town and out-of-town precious metals dealers, secondhand-goods dealers, scrap metal purchasers, gaming retailers, bicycle dealers and kiosks that electronically purchase secondhand goods from customers.

Strop, of the Property Crimes Unit, thinks the change would boost the police department’s ability to recover stolen property and discourage criminals from trying to sell stolen goods to dealers.

“We have a large amount of property theft every year, and there are a number of items that we never recover. And I’ve just looked at what items are most often taken during thefts, which are electronics and gold and jewelry,” Strop said.

However, an alliance of independent, local jewelers says the reporting requirements of pawn shops should not pertain to them, and the work would be labor-intensive and costly.

“We’ve tried to look into it, and we’re trying to understand why they’d really want to include a store like ours in this proposal,” said Bob Church, manager of Lasker Jewelers in downtown Rochester.

He said that, while pawn shops regularly purchase property from people for resale, buying jewelry from customers represents about 10 percent of Lasker’s business.

“So, it kind of surprises me that we’re being expected to go through all of this for what seems to be no apparent reason. We’re not even on the radar, as far as I can tell,” Church said.

While not opposed to collecting minimal information from selling customers, Church said taking photographs of people and the items they wish to sell likely would offend his customers.

“And we don’t want to have to post signs that we’re going to do all those things,” he said, referring to another requirement in the ordinance. “We don’t want to have to tell people that what they’re selling us is going on to a statewide database.”

After Sgt. Strop’s initial proposal in January, the city council asked him to seek opinions from potentially affected businesses. That process is still underway, council member Sandra Means said during a recent committee-of-the-whole meeting.

The jewelers alliance has expressed its concerns to Means, Strop and council President Randy Staver. The group is working on an alternative proposal for the council, which agreed to hold off on a decision for a couple of weeks.

“I think this is going to work out fine,” said Means, who is working with the jewelers. “We want all voices to be heard. We need to hear their issues and suggestions, or we won’t have an ordinance that applies to everybody.”

Article source: http://www.postbulletin.com/business/jewelers-opposed-to-pawn-ordinance-changes/article_ff900a27-eaf9-5a0f-b8aa-305fc477c088.html

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A Good Business to be (and Invest) in

May 21, 2013 Posted by admin

We’ve been getting a lot of questions about the basics of gold investing. So today let’s take a couple of minutes to outline a few foundational items that can help you whether you’re just getting started or looking for new ideas.

I know many of you are experienced gold investors, so I’ll make this part brief. We’ll also look at a gold-investing idea that can perform well regardless of the price of the metal itself, so stay tuned for that.

The gold “spot price” is the price at which the market is valuing gold. When buying, you look at the ask price. Without getting too technical, the “ask” price is what a dealer is going to ask for the gold bullion.

It is higher than the “bid” price, which is what a dealer will bid to buy the bars. I’m assuming you’re buying to hold, not to trade, so there’s no reason to worry about the bid price right now.

The dealer you’re buying the gold from is going to ask for a “premium” over the spot price. The premium is going to vary depending on the weight and type of coin or bar you’re buying.

So, the premium for a one-ounce Maple Leaf coin is going to be different than the premium for a one-ounce American Buffalo, which will be different than a quarter-ounce American Eagle.

***

When I buy gold coins or bullion, I simply ask what the dealer is selling for the lowest premium over spot. It doesn’t matter to me if I’m buying new coins, old coins or bullion. As long as I’m buying the product of a well-respected mint, I focus mostly on the gold.

It is important to make sure you’re buying from a reputable dealer, or else you might not be able to easily liquidate your gold when you do decide to sell.

Be sure, when you do buy, to ask about their policies for buying back the gold they’ve sold you — you want to get as much money as possible, and there are often specific steps you need to take to ensure that happens.

That premium can differ drastically from one dealer to another. For example, a member of my team was selling physical silver at one point. He got an extra 20% for his silver because he made three phone calls instead of just one!

That premium represents the dealer’s profit. Some dealers are willing to sell for less than others. As long as the mint from which the bullion or coin comes is well-respected, you want to pay the lowest-possible premium.

Here’s a hint: If you are seeing ads on TV, the premium is likely higher than you want to pay, because the dealer has to pay for the ads and will need to incorporate this in the price of the metal you buy. Make sure you shop around before you buy!

***

Now for the opportunity …

Jewelry stores are adept at profiting from a premium in the gold and silver marketplace, for two huge reasons.

First, they market to clientele who, mostly, don’t follow the daily spot gold prices. Second, they aren’t selling the idea of gold as a store of value. Instead they’re selling beauty, or love, or ego, or a thousand other reasons why people buy jewelry.

Their prices are astronomical from the point of view of a gold investor. Their costs are, however, not proportionally higher.

This “hidden premium” is a great way for the jewelry store to profit. That makes the jewelry business a good one to be in … and, depending on the stock, to invest in!

Either way, here is a list of some jewelry store stocks to get you started. Please note that I am not making picks on these stocks. This is simply a partial list of stocks that trade on the U.S. markets to use as a starting point for researching this sector on your own.

Blue Nile (NILE)
Christian Dior (CHDRY)
Charles Colvard (CTHR)
LVMH Moet Hennessy Louis Vuitton (LVMUY)
Signet Jewelers (SIG)
Chow Sang Sang (CHOWF)

Beyond this group, there are plenty of other plays both within the U.S. as well as on the overseas exchanges. In fact, Sean and Tony have recently given their subscribers some unique ways to play gold without directly playing gold.

And in your Friday-morning issue of Uncommon Wisdom Daily, Rudy is sharing another name with a truly compelling story. Don’t miss out on that issue — or any in-between!

Here are some news items you should be aware of while managing your portfolio:

***

In Other Market News:

Yahoo! (YHOO) is buying micro-blogging site Tumblr in a mostly cash deal to the tune of $1.1 billion. You’ll remember the tech sector is one of the sectors I mentioned as a way to find solid returns for your investments, but this deal just highlights how important it is to choose any investments carefully.

While Tumblr’s 100 million users carry a value, the company’s gross revenue last year was only $13 million. When Tumblr last raised money, a little over a year and a half ago, the $85 million venture capital investment it received valued the company at $800 million.

So, why the $300 million premium? That’s going to depend, in large part, as to how effectively Yahoo! can leverage Tumblr’s user base. Yahoo! CEO Marissa Mayer thinks the deal will give her company a social-networking and communications hub. She also promised not to “screw up” Tumblr, as some Flickr users have said since Yahoo! took over the online photo-sharing service in 2005.

Just like the rest of the gaming sector, Micosoft’s (MSFT) new Xbox — which will be revealed tomorrow — is already facing stiff competition from smartphones and tablets. The newest version represents a multiyear attempt to keep it current and “cool.”

The console game market is a $27 billion a year industry where, according to Andrew House, the head of Sony’s (SNE) PlayStation division, “We’ve seen a dramatic shift in the way people interact with technology.” He also commented, “The consumer is changing us.”

The aftermath from Hurricane Sandy continues, but there could be some positive developments when it comes to Home Depot (HD) and Lowe’s (LOW), which report fiscal first-quarter results this week. FEMA has approved $1.38 billion in assistance for Sandy victims.

Cooler-than-normal temperatures have delayed the spring sales season for DIY giants, so it will be worthwhile to also keep an eye on second-quarter results when those become available. For now, “This will be the first quarter that shows people did more of the major work,” said David Schick, an analyst at Stifel Nicolaus. Plus, an upturn in construction has picked up some of the slack.

***

Your feedback — spanning a variety of topics from gold to tech to income to the economy — continues to be insightful and thought-provoking. A lot of you wrote in over the weekend and I’m going to keep reading through those tonight. In the meantime, I want to share this comment with you.

Carl writes:

“I think this obsession with gold has taken a lot of people on a roller coaster ride that, in my estimation, is far from over. While gold bugs remain firmly entrenched in gold, they miss out completely on targeted stock-market gains.

“It’s one thing getting on your bully pulpit to lambast the U.S. for this and that, but you do a great disservice to many who read these articles by continually announcing the disintegration of the U.S. and to park money in gold.

“I listened to the doom-and-gloom stuff for years now and missed one of the greatest bull markets in history.”

Brad — First let me thank you for taking the time to send in your concern, Carl. And I agree with you; it would be irresponsible to suggest someone should invest only in gold. That’s why we have never done it at Uncommon Wisdom Daily.

Just for a point of clarification, there’s plenty of doom-and-gloom in the markets and we actively work to cover investment ideas that are working their way higher. With regard to gold (and also oil, natural gas and the broader spectrum of commodities), Sean Brodrick has made recommendations this year that have his people up 22% year-to-date, and perhaps we brag about that a bit.

After all, even when the markets are in corrective mode, there are plenty of bullish forces at work. Rudy Martin covers powerful trends that are under way around the world in his stock-trading service. And Tony Sagami writes about Asia-focused stock and options plays as well as opportunities to trade international-focused ETFs.

Lately, we have been talking a lot about gold because we have received almost 20 times our normal volume of questions when we ask what our readers think, or want to know, about gold.

From time to time, we do talk about the mistakes we think the presidential administration and the Fed are making, because you have to be realistic in your approach to investing. But we work very hard NOT to beat the “scare you to death” drum.

In fact, recently I have said we should see a bull run in stocks for the remainder of the year as the Fed continues to pump money into the markets. And I think I can speak for Sean, Rudy and Tony when I say that while there may be a few corrections here and there, we also see trends with huge profit potential in a wide array of stocks, sectors and countries that are worth our attention.

And so, if there’s trouble ahead for the U.S. or a particular asset class, we aim to let you know about it … and help you find stronger areas and opportunities to consider.

What would you like for us to cover? Let us know at feedback@uncommonwisdomdaily.com. After all, it’s our job to help you make the highest returns possible, and we take that job seriously.

Good Luck and Happy Investing.

Brad Hoppman
Publisher
Uncommon Wisdom Daily

Article source: http://www.uncommonwisdomdaily.com/a-good-business-to-be-and-invest-in-16318

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Is this a good time to purchase gold jewellery?

May 20, 2013 Posted by admin

Is this the ideal time to purchase gold jewellery after the prices have softened? Or should one wait and watch? Sanket Dhanorkar asked some experts for their opinion. Here’s what they had to say.

R Venkataraman, MD, India Infoline

Yes

The recent, sharp decline in gold prices has shaken the market out of its comfort zone. It is a unique situation because the investors who are holding on to their gold positions are unhappy that the prices have gone down, whereas the women who have been wanting to buy jewellery ever since the stark rise in prices, are delighted and celebrating the fall. At the end of the day, gold is a commodity, and all commodity prices go through cycles. Apart from having limited use as jewellery, gold is also perceived as being a store of value from historical times.

From 2000 onwards, gold has had a dream run, with prices rising significantly on a yearly basis. However, people have forgotten that there was a period during the 1990s, when gold prices had declined continuously. The recent collapse of gold prices can be attributed to a combination of factors, including the speculative sell-off and recovery in the US. If the interest rates in the US go up, gold will start competing with the US treasury. After the subprime crisis of 2008, investors across the globe had bought gold as a store of value. As the world economy stabilises and people’s faith in the banking sector recovers, gold is likely to lose its sheen.

My recommendation to investors and savers is to start investing in a disciplined manner and spread the gold purchases over a period of time. Reduce the gold allocation in your portfolio as we think the prices will witness a consolidation and stabilise at around $1,200-1,300 because this is the marginal cost of production.

For those interested in buying jewellery, there is no right time to do so. Whenever you can afford it, walk into the nearest jewellery shop, buy and indulge yourself.

Â Raghvendra Nath, MD, Ladderup Wealth Management

Yes

In India, where almost every family has some investment in gold, the reaction to the fall in prices has been shocking. Suddenly, people have realised that gold prices don’t follow a one-way-street. The metal has been the favorite investing destination for Indians, so it’s not going to lose its sheen so easily. The long-term history of gold clearly shows that it has been able to beat inflation consistently. If this is the case, a short-term price correction should not rattle investors.

The people who buy gold jewellery with the dual objective of usage and investment should not be worried at all. The logic is simple. If gold prices were to go up to Rs 50,000, would they sell their family jewels? Probably not. Then why should they be worried when the prices have fallen a bit after a heady rally of several years? So, if you had postponed purchasing gold jewellery because of high prices, technically, it is now available at a discount. Considering the fact that the discount could become sharper in the days to come, you could consider spreading your purchases, if possible.

Article source: http://economictimes.indiatimes.com/markets/commodities/is-this-a-good-time-to-purchase-gold-jewellery/articleshow/19649738.cms

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Hedge funds selling gold after propping market a month ago

May 19, 2013 Posted by admin

By Barani Krishnan

NEW YORK |
Fri May 17, 2013 6:55pm EDT

NEW YORK (Reuters) – Hedge funds and other big speculators in commodities have started selling gold in a big way, trade data showed on Friday, just a month after they had supported the precious metal amid a record tumble in its price.

Money managers, including hedge funds, pulled $1.4 billion from the U.S. gold futures market for the week ended May 14 by trimming their net long positions in the metal, according to Reuters calculations of data released by the Commodity Futures Trading Commission (CFTC).

Just a month ago, CFTC data showed hedge funds had added to their net long positions in U.S. gold futures despite a record loss in bullion prices at that time due to a broad commodities selloff triggered by global economic worries.

The spot price of gold fell to below $1,340 an ounce in mid-April, losing over 8 percent or more than $125 in a single day. The selloff was mitigated by buying support later in the week from consumers attracted to the drop in prices for gold bars, coins, nuggets and jewelry. Gold futures then shot back up, to above $1,400.

Since then, they’ve fallen again, closing on Friday at below $1,365 an ounce.

“I think hedge funds have begun accepting the fact that deflation is a bigger threat to the U.S. economy now than inflation. So, the argument of owning gold as an inflation hedge no longer holds water,” said Adam Sarhan, chief executive at New York-based investment advisory Sarhan Capital.

Open interest, a measure of market liquidity, fell more than 3 percent in the week to May 14 for gold contracts traded by money managers on the COMEX division of the New York Mercantile Exchange, the CFTC data showed.

In terms of actual contracts, the net long position held by money managers fell 10,043 to 39,216. Based on COMEX closing prices for May 14, Reuters calculations showed a net outflow of about $1.4 billion from the drop.

In mid-April, after hedge funds had rushed in to buy gold, open interest for the precious metal on COMEX jumped by a staggering 24 percent.

On Friday, gold fell for a seventh straight session, its longest losing streak in four years, as the dollar rose to the highest since 2008 after some Federal Reserve officials said the central bank should end its stimulus for the U.S. economy.

Ultra low interest rates and hundreds of billions of dollars of Fed stimulus money have fueled higher prices for gold and other commodities over the past 3 years.

This year, gold’s safe-haven lure been dulled by improving U.S. economic data, which included a May reading for consumer sentiment that stood at a near six-year high. Money has also been rotating out of gold into equity markets as U.S. stock prices hit record highs.

Exchange-traded products in gold – investment vehicles that give investors exposure to bullion through issuing securities backed by the physical metal – have seen huge outflows this year.

The largest, New York’s SPDR Gold Trust, reported an outflow of another 5.7 tonnes on Thursday, bringing the drop in its holdings this week to more than 10 tonnes.

Some traders expect the current sell-off in gold to not let up until the market loses between $200 and $300 more. That would push prices to levels last seen in the first quarter of 2010.

“With a few more hard losing sessions, we could be down to between $1,050 and $1,100. It could happen over two weeks or it could happen in a couple of days if the market plunges $100 a dip,” said Frank McGhee, head precious metals trader at Integrated Brokerage Services in Chicago.

(Editing by Andrew Hay and Lisa Shumaker)

Article source: http://www.reuters.com/article/2013/05/17/us-hedgefunds-commodities-cftc-idUSBRE94G0XV20130517

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"We Buy Gold." How Shops Are Faring, Post-Gold Crash

May 18, 2013 Posted by admin

During the recent gold rush, when prices surged from $900 to $1,800 an ounce over the course of three years, gold-buying businesses seemed to crop up everywhere. It wasn’t just jewelry stores and pawnbrokers that advertised their willingness to buy. “Cash for Gold” signs in barbershops, dry cleaners, and gas stations were common.

How have small businesses dealing in gold fared during the recent plunge in gold, as prices dipped below $1,400 an ounce? Public-facing buyers large and small are generally regulated at the state level, by consumer affairs law, and nationally, by anti-money laundering provisions in the Patriot Act. But there’s no single database of gold-buying businesses and no simple way of gauging how they’ve responded to falling gold prices.

William Nefsky, a precious metals consultant in Atlanta, says the plunge in gold prices shouldn’t squeeze out gold-buying storefronts because they pay sellers one-fourth to one-half the prices they charge buyers. And while some states require second-hand businesses such as gold-liquidators to hold goods for a set period of time before reselling, Nefsky says their wide margins should cushion them.

Others, such as former Congressman Ron Paul and Anthem Blanchard, chief executive officer of gold bullion dealer Anthem Vault in Las Vegas, say recent declines have been driven by futures markets while demand for the physical product remains strong. “The cash-for-gold businesses should increase their margins,” says Blanchard. “They should be able to get a better premium for their scraps.”

The other predominant school of thought offers a gloomier take. Jordan Tabach-Bank, a third-generation pawnbroker in Beverly Hills, Calif., says that the cash-for-gold business was slowing down, even before prices fell off the table. “A lot of those businesses have closed down because people have already sold what they want to sell,” he says. Todd Hills, CEO of online pawnbroker Pawngo says his industry is also grappling with the aftermath of the recent hot market. “The problem with gold getting so high was that everyone wanted to liquidate,” he says. “If they liquidated their gold, they don’t have anything to borrow against.”

This week, British pawnbroker Albemarle Bond’s (ABM) stock fell the most since 1995, according to Bloomberg News, after the company warned that its gold-buying unit may experience lower profit in the face of weaker gold prices and fewer clients with jewelry to sell.

Cash-for-gold shops aren’t going to vanish entirely, says Cecilia Gardner, CEO of the Jewelers Vigilance Committee, a self-regulatory organization for the jewelry industry.“There have been gold-buying business from time immemorial,” she says. “They’re not going to disappear.”

Article source: http://www.businessweek.com/articles/2013-04-24/we-buy-gold-dot-how-shops-are-faring-post-gold-crash

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Gold Prices Are on the Decline, Sell Gold With NoCo Gold & Diamond to Get the …

May 17, 2013 Posted by admin

FORT COLLINS, CO, Apr 23, 2013 (Marketwired via COMTEX) –
After rallying to record high prices a few years ago, gold prices
have actually been declining since late 2011. In fact, a recent
article by the New York Times shows that gold has lost nearly 20% of
its value in the past few years. In light of this situation, many
investment analysts recommend consumers sell gold in order to take
advantage of these higher prices while they last. In Northern
Colorado, NoCo Gold Diamond is your best bet to get the most money
for your unwanted gold bullion or jewelry. But, hurry before the
value of your gold assets sink further.

“Gold experienced a large surge in value after the recession and
economic downturn of the last several years,” said Brian Kaplan, NoCo
Gold Diamond owner. “But, now that the global economy is starting
to recover, gold prices are actually beginning to decline, though
they remain at very high levels historically. What this means for
consumers is that now is the best time to get the most cash for gold
out of your unwanted gold jewelry. And, in Colorado, nobody will give
you a better price for your gold than NoCo Gold Diamond,” Kaplan
said.

Much of what sets NoCo Gold Diamond apart is its convenient mobile
appraisal and purchase which allows customers to easily sell their
unwanted gold, silver or diamond jewelry in a safe location of their
choosing. It also lets NoCo Gold Diamond cut down on the overhead
costs that cause other cash for gold businesses to pay less than top
dollar for your gold jewelry. The experts at NoCo Gold Diamond have
over 25 years of experience in the industry, and they buy more than
gold. They offer top dollar for silver and diamonds as well.

“With the market still very favorable to consumers looking to sell
gold jewelry, we could quickly see a rush to sell off some gold
assets. This means that if you want the best value for your unwanted
gold jewelry, it is best to sell gold as soon as possible. At NoCo
Gold Diamond, we work hard to make that process easy and convenient
for our customers,” Kaplan said.

If you are looking to sell unwanted gold, silver or diamond jewelry,
NoCo Gold Diamond is your best choice for convenience, value and
discrete transactions. Visit them online at
www.nocogoldanddiamond.com to learn more, or call (970)-658-0488 to
turn your unwanted gold into cash today.







        
        NoCo Gold  Diamond
        Brian Kaplan
        1213 Camrose St.
        Fort Collins, CO 80525
        970-658-0488

SOURCE: NoCo Gold Diamond

Article source: http://www.marketwatch.com/story/gold-prices-are-on-the-decline-sell-gold-with-noco-gold-diamond-to-get-the-most-for-your-money-today-2013-04-23

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Gold Rush Lifts Profit at Biggest Jewelry Maker: Corporate India

May 16, 2013 Posted by admin

A surge in demand for gold ornaments
and coins after the biggest slump in prices in three decades is
poised to boost profit at Rajesh Exports Ltd. (RJEX), India’s largest
manufacturer and exporter of jewelry.

Net income in the three months ending June may advance 20
percent after rising 3.3 percent in the same period a year
earlier, Rajesh Mehta, chairman of the Bangalore-based company
said in a phone interview yesterday. Sales at the 75 retail
outlets owned by the company probably surged as much as 40
percent yesterday during Akshaya Tritiya, the biggest gold-buying occasion, from a year ago, he said.

The festival considered to be an auspicious day to buy the
precious metal led to shoppers crowding jewelry stores to buy
ornaments lifting sales at retailers such as Rajesh, Titan
Industries Ltd. (TTAN) and Gitanjali Gems Ltd. (GITG), while a company roped
in cricketer Sachin Tendulkar to promote its coins. Gold
plummeted 14 percent in two sessions through April 15 in the
worst slide since 1983, boosting demand from India to Australia.

“Gold is God’s currency for people so the faith is much
more,” Prithviraj Kothari, managing director of Riddisiddhi
Bullions Ltd. said yesterday. “Indians have blind faith in
gold. From birth to death people need gold.”

Imports by India, the world’s biggest bullion consumer, may
soar 47 percent this quarter to 225 metric tons from a year
earlier as the drop in prices and festivals spurs demand, Haresh Soni, chairman of the All India Gems Jewellery Trade
Federation, said yesterday. Sales during Akshaya Tritiya are
estimated to be 20 percent more than a year earlier, he said.

Never Diminishing

During Akshaya, a Sanskrit word meaning “that which never
diminishes,” Indians begin new ventures or buy valuables with
the belief it will bring luck and prosperity. Based on the lunar
calendar, the date changes every year.

Gold sales may jump 50 percent to 30 tons during this
year’s festival, said Kothari, who chose the day to open his
first retail outlet to sell diamond-studded jewelry in Mumbai’s
Zaveri Bazaar. The festival is considered by the country’s more
than 900 million Hindus as the traditional day to buy precious
metals. Bullion is also bought during religious festivals and
marriages as part of the bridal trousseau or gifted in the form
of jewelry by relatives.

Gitanjali, India’s biggest gold and diamond jewelry
retailer by revenue, forecasts sales will increase 30 percent to
35 percent this quarter from a year earlier, Managing Director
Mehul Choksi said yesterday. Deliveries during Akshaya Tritiya
may have increased 50 percent to 60 percent, he said.

Caressing Gold

“I buy gold for every Akshaya Tritiya,” said 45-year-old
housewife Heena Makwana, as she and her sari-clad mother
caressed a gold bar they purchased at Vimalsons Jewellers in
Zaveri Bazaar. “Usually I buy 5 grams-10 grams, but this year I
have bought 100 grams because of the low rate.”

Rajesh Exports fell 3.3 percent to 121.55 rupees at 3:30
p.m. close in Mumbai trading, while Titan lost 1.1 percent to
282.30 rupees and Gitanjali retreated 2.4 percent to 586.25
rupees. Rajesh Exports reported a profit of 982.6 million rupees
in the three months ended June 30 last year.

“Gold demand is going to increase for two reasons — India
is the largest consumer of gold, and the price of gold is at a
very lucrative level,” said Navneet Goenka, managing director
and vice chairman of Goenka Diamond and Jewels Ltd. “They think
gold looks like a very secure commodity right now.”

Gold entered a bear market in London in April as investors
sold the metal in favor of riskier assets on speculation that
the global economy was recovering. The precious metal is off to
its worst start to the year since 1982, losing 15 percent.

Sachin Tendulkar

Bullion for immediate delivery fell 0.1 percent to
$1,428.76 an ounce. While gold has rebounded from a two-year low
of $1,321.95 on April 16, it is 26 percent below the record
$1,921.15 reached in 2011. Futures tumbled to as low as 25,270
rupees per 10 grams on the Multi Commodity Exchange of India
Ltd. (MCX) on April 16, the cheapest since September 2011. The June-delivery contract fell 0.5 percent to 26,733 rupees today.

Jewelers in India announced a slew of offers from discounts
on ornament-making charges to gift vouchers to lure buyers on
Akshaya Tritiya. Valuemart Gold Jewels Ltd. roped in Tendulkar
to promote coins embossed with the image and signature of the
cricketing icon. The company is selling gold coins weighing 10
grams each priced at 34,000 rupees, Valuemart said on its
website.The World Gold Council and India Post are offering a 7
percent discount on coins, while Bullion India is promising free
home-delivery for online purchases.

‘Perennial Demand’

“There are more people buying gold jewelry this year
rather than coins as prices have slumped,” Yashovardhan Zaveri,
managing director of Tribhovandas Bhimji Zaveri Delhi Pvt., said
from his jewelry store in New Delhi. “Normally, coins are
preferred on auspicious days.”

Banks in India are charging a premium of $10 an ounce
compared with $2 before prices slumped, he said. Premiums may
ease to $4 by mid-June when demand typically eases because of
the monsoon, he said.

“There’s a perennial demand for gold in India and any dip
in the price is seen as a buying opportunity,” said Jagannadham Thunuguntla, chief strategist at SMC Global Securities Ltd. (GLBS) in
New Delhi. “Jewelers have been growing in the past five to six
years with the phenomenal, unprecedented gold rally, and they
are continuing to be the beneficiaries.”

To contact the reporters on this story:
Swansy Afonso in Mumbai at
safonso2@bloomberg.net;
Malavika Sharma in New Delhi at
msharma52@bloomberg.net

To contact the editor responsible for this story:
James Poole at
jpoole4@bloomberg.net

Enlarge image

Gold Rush Lifts Profit at Biggest Jewelry Maker

Dhiraj Singh/Bloomberg

“Gold is God’s currency for people so the faith is much more,” Prithviraj Kothari, managing director of Riddisiddhi Bullions Ltd. said yesterday. “Indians have blind faith in gold. From birth to death people need gold.”

“Gold is God’s currency for people so the faith is much more,” Prithviraj Kothari, managing director of Riddisiddhi Bullions Ltd. said yesterday. “Indians have blind faith in gold. From birth to death people need gold.” Photographer: Dhiraj Singh/Bloomberg

May 10 (Bloomberg) — Chuck Jeannes, chief executive officer of Goldcorp Inc., talks about gold prices and their impact on the company’s mining operations and growth strategy.
He speaks with Sara Eisen on Bloomberg Television’s “Market Makers.” (Source: Bloomberg)

May 9 (Bloomberg) — Troy Gayeski, senior portfolio manager at Skybridge Capital, talks about investment strategy and the outlook for the U.S. economy, Federal Reserve policy and gold.
Gayeski speaks with Erik Schatzker at the SALT Conference 2013 in Las Vegas on Bloomberg Television’s “Lunch Money.” (Source: Bloomberg)

May 9 (Bloomberg) — BlackRock Inc. President Robert Kapito and James Grant, publisher of Grant’s Interest Rate Observer, talk about inflation, central bank policy and gold.
They speaks with Tom Keene and Sara Eisen on Bloomberg Television’s “Surveillance.” (Source: Bloomberg)

Article source: http://www.bloomberg.com/news/2013-05-13/gold-rush-lifts-profit-at-biggest-jewelry-maker-corporate-india.html

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Tags: gold, jewelry, sell
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Use your gold jewelry to weather the economic downturn

May 15, 2013 Posted by admin

The economic news is not improving, but the glittering value of gold may be a saving grace for some cash-strapped Toronto consumers.

With bankruptcies up 20 per cent, and unemployment still high at 7.2 per cent, some experts say gold is one smart answer.

The Cashman, Toronto’s own Russell Oliver of Oliver Jewellery has been buying gold from the public for over 40 years. His shop at 366 Eglinton Ave. W. has the feel of a doctor’s office. The walls are white and the counter is also white with a glass top. Clear plastic chairs are lined up on the opposite wall, underneath the tastefully framed pictures of the Cashman’s news coverage. The back wall has three small window kiosks where loans are dispensed and jewellery becomes the collateral.

“Jewellery is a beautiful asset, it is so portable, that is the beauty of jewellery,” Oliver said in an interview. “You can transport it from one country to another, from your home to your pawnbroker or whatever the case may be. I can put a million dollars of gold in my pocket without any problems.”

The current value of gold is $1,466.67 per ounce according to the Gold Price Network. It was selling for under $400 per ounce in 2004 and reached its peak in 2011 at $1,900 per ounce, according to the Associated Press.

Oliver appreciates the need for privacy. Some customers are just not comfortable visiting a pawnbroker. Most of all they are concerned they may not get a fair price.

The Cashman doesn’t ask where his customers spend their money, although some have told him what they do with the cash they receive at his shop.

“The most common is to pay bills, it is as boring as that, ‘My Visa bill and I got to pay it and I don’t want to go bankrupt’,” Oliver said.

Oliver’s divorced clientele have also benefited from the high price of gold, as they convert the family assets — the home, clothing and jewelry– into cash. His advice for divorcing couples? Keep the emotion out of the sale.

“It is only things you are selling, it is not like you are selling your body or an operation or anything, it is just a question of getting a little bit more or a little bit less for whatever you are selling,” he said.

Selling gold made easy

The ability to sell gold for cash has taken on a social component that can take place in a private home. Companies like the Gold PartyCanada, founded in Montreal and now operating nationally, host an average of 20 gold parties a week, according to founder Jordan Stein.

Lorna Glickman D’Onofrio of Richmond Hill, Ontario, held a gold party a few years ago where she invited friends and family to bring their unused gold to sell for cash. Representatives of Gold Party brought their own scales and cash, they weighed the gold each guest brought and paid cash on the spot. Glickman D’Onofrio found it to be a “win-win” situation for everyone involved: she earned $800 that evening as hostess.

There was only one catch, though, and that was duplicating the event, since most people have only a finite amount of gold to sell. Stein acknowledges this concern.

“People only have so much to sell and need time to accumulate more,” he said.

Creating gold collateral

The Cashman offers loans too

Gold can be a renewable asset for those to wish to hold onto their gold. And that is the other side of the pawnbroker business that Russell Oliver runs, although he prefers to call it “loans”.

He said usually, Canadians who own gold don’t like to part with it.

But the tradition is strong in Toronto’s multi-cultural community including those coming from Europe, Asia, Africa and Latin America, he says, who use their valuables for secured loans.

Oliver has one customer who would never sell his $10,000 Rolex watch, but is happy to hand it over temporarily for a $5,000 loan whenever he needs money. Oliver’s interest rate is five per cent per month.

Photo Gallery

Courtesy Gold Party
Theresa Spohn//Toronto ObserverTS_thejewelleryboutique_05092013

Potential transaction at the jewellery boutique
Theresa Spohn//Toronto Observer

Russell Oliver examines gold brought in by a customer
Theresa Spohn//Toronto Observer

Muffin trays ready to receive more gold
Theresa Spohn//Toronto Observer

How the gold is sorted
Theresa Spohn//Toronto Observer

Gold for sale
Theresa Spohn//Toronto Observer

Where the gold is assessed.
Theresa Spohn//Toronto Observer

The safes at Oliver Jewellery
Theresa Spohn// Toronto Observer

Russell Oliver, the Cashman, in his office
Theresa Spohn

Russell Oliver, aka the Cashman, owner of Oliver Jewellery sits at this desk
Theresa Spohn/Toronto Observer

Oliver Jewellery at 366 Eglinton Ave. W.

Article source: http://torontoobserver.ca/2013/05/14/use-your-gold-jewelry-to-weather-the-economic-downturn/

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Tags: gold, jewelry, sell
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