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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.

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