Cash for Gold Boca Raton

The latest reports are jewelers are selling more gold than they’re taking in.  This is a huge reversal from recent history, especially in the days after the great recession.  You couldn’t drive down the street without seeing a cash for gold Boca Raton place with a line outside.  The fourth quarter of 2014 was the strongest since 2009 for demand for buying gold.  It actually increased 13% year over year.

2014 full year demand in the US increased by 9% to 132.4 tons.  This is it’s highest level in almost five years.  However, it is nowhere near the pre-recession days before 2008.  For example between 2000 and 2006 demand averaged 360 tons.  Consumers were actually buying more 14-karat gold and less 10-karat gold.  “Growth in consumer confidence and the positive impact of lower oil prices are likely to feed through to further improvements in this market over the coming quarters and retailers report a widespread conviction in the underlying growth trend,” the report states.  As the economy improves and people feel better about their own financial situations they are more likely to go out and buy jewelry for themselves or their loved ones.

Gold recycling declined by 11% globally year-over-year to reach a seven year low.  “Looking forward, we expect recycling to remain low in 2015, and possibly decrease further given that a large portion of near-market supply has been flushed out in recent years. Less distress selling may further suppress recycling volumes.”  Worldwide demand for gold jewelry rose by a percent but value actually declined by five percent.