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The West Australian Newspaper – Scrap gold traders cash in on hot bullion

| | June 15th 2024

Business is booming for scrap gold traders as consumers rush to take advantage of soaring gold prices to offload unloved or unwanted gold items. With gold trading above $US1000 an ounce and the importance of cash highlighted by the deepest global recession in more than 60 years, Australians are trading in everything from old engagement rings and broken lockets to coins and mismatching earrings. And with industry forecaster GFMS chairman Philip Klapwijk tipping scrap gold sales, including used jewellery, to...

The Sunday Age – New breed of gold buyers comes to the party to cash in on a bling-led bonanza

| | June 15th 2024

The new gold rush: trader Michael Salib says some rivals are luring customers in to selling at well below the going rate. LAST week, as the European economy went down the toilet, Michael Salib of Cash for Gold Australia at Richmond bought $150,000 worth of second-hand gold rings and bangles. The two events are closely related. Ever since the financial crisis cranked up, the price of gold has been climbing -sparking a ”war” between new and old players trading in...

ABC TV – Gold sees a resurgence

| | June 15th 2024 REBECCA NASH, REPORTER: It wasn’t so long ago that the idea of the gold price pushing through the $1,000 mark seemed a far-off prospect, but the GFC has seen investors returning to the age-old security of the precious metal, sending its value skyrocketing. Even those trading in recycled gold are in the midst of a boom, with turnover growing at a rapid pace and new players entering the market. MICHAEL SALIB, MD, CASH FOR GOLD AUSTRALIA: We receive anything...

Gold has a nice ring to it while world’s in a spin

| | June 15th 2024

GOLD fever is again gripping the nation – at least according to retailers. One hundred and sixty years after Australia first found itself the throes of a gold rush, the yellow metal is firmly back in vogue as investors take cover from volatile global markets. But the 21st century rush is to shopping centres, jewellers and gold trading parties, and – for the serious investor – into exchange-traded products. Retailers say some retirees are using parts of their superannuation payouts...

THE AGE – Gold maintains its lustre

| | June 15th 2024

FOR gold bulls, it has been a stampede now well into its 11th year. Each day for more than a week, the gold price has hit another record high on an apparently unrelenting rush towards the $US2000-an-ounce mark. The soaring price of the yellow metal has been a magnet for investors seeking a sanctuary from wild swings in other markets, such as shares and even the Australian dollar. Real estate, long the first love of many Australian investors, has lost...