Have you noticed that everywhere you look in Toronto today, you will find a Cash For Gold location? You can find a Gold Buyer on every major commercial intersection and they are all rushing to buy all the gold, silver and platinum they can get their hands on.
With gold prices topped at $1800 US per ounce for the first time earlier this month and reaching almost $ 1,900 on Monday, the Toronto Cash For Gold industry is fast becoming a highly competitive market.
There is really a non-stop rush and people are selling their gold like crazy according to Oliver “Cashman”, the man known for his low-budget TV ads.
Right now every major Jewellery store has started buying gold from customers as well and a race has begun to buy up as much gold from the public as quickly as possible. But selling the gold on the consumer market has also grown, and with little regulatory legislation in place, the market is reminiscent of a wild west gold rush.
On any given commercial Toronto intersection, you are likely to find a shop willing to buy your gold. But why is there such a strong race to buy up all the gold? To understand why it is so profitable to be a Gold Buyer in Toronto is based on the fact that Gold is a proven investment commodity and it continues to soar at record values. Now and then we see fluctuation on the spot price of gold, but the fact is that gold continues to be one of the most stable commodities in any investment portfolio.