Pawnbrokers benefit from increased price of gold
While the price of gold continues to move higher and higher, as many investors look for alternative arrangements to protect their funds, pawnbrokers have benefited enormously over the last two years. A quick glimpse at TV in the UK will show a mass of new gold exchange adverts offering cash for your jewellery at a moment's notice. So how long can this continue?
Even though there had been a slight drop in the price of gold only a few weeks ago, investors appear to have a new appetite for the precious metal and many expect the price to continue rising in the short to medium term. It seems that many people in the UK, often short of cash in these troubled times, are more than happy to trade in their own jewellery for cash in hand which they can use to cover the ever rising cost of living in the UK.
As a consequence, pawnbrokers across the UK are reporting record figures and record profits and while the current rate of growth cannot go on forever, many believe we have not yet hit the peak in this particular sector. Once an outcast on the UK high Street, pawnbrokers are certainly making a comeback.
Share this..
Related stories
Tories Plan An Energy Discount Card
In the world of energy supply there are many ways in which you can reduce your bills including dual services and direct debits. However, the opportunity to reduce energy bills by using a direct debit payment system is not available to as many as four million in the UK who do not have bank accounts or withdraw all of their funds each week. Many of these people are paying up to £100 extra a year...
Read MoreCoalition government hands power back to the cities
Eric Pickles, the Communities Secretary, has today suggested that that government will introduce a bill that will allow 12 of England's largest cities to directly elect their own mayor. The cities in question include Birmingham, Leeds, Sheffield, Liverpool, Bristol and Manchester with the likelihood that elected mayors will have more control on local spending and effectively decentralise power fro...
Read MoreUK government raises terrorist threat level
The UK government has tonight increased the UK terrorist threat from substantial to severe amid suggestions that the authorities have information regarding a potential Al Qaeda attack next week. It is possible that an increase in the terrorist threat around the globe could impact upon the worldwide economy which is still suffering from the economic downturn of 2009. There are also concerns that...
Read MoreMortgage costs may rise with new BoE regulations
31/10/2014 The Bank of England (BoE) will today announce new regulations for banks to maintain financial safety nets. Industry experts believe this may raise the costs of mortgages and penalise building societies. The new rules are expected to require “systematically important” banks to have a leverage ratio between 4% and 5%. This means that for every £25 that a bank lends, it must ha...
Read MoreShares in International Power rise on bid speculation
As we covered yesterday, strong rumours that GDF Suez has approached UK power giant International Power about a potential takeover has seen shares in International Power rise by 9% this morning. While there has been no official confirmation from either company about potential talks about an offer, informed sources believe that informal talks have taken place and International Power may well be ope...
Read More