The GoldSmart Network

The GoldSmart Network

October 08, 2009 11:49 ET

Gold Prices Soaring-What's it Mean to the General Public?

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2009) - Gold hit an all time high this week due to a series of interrelated economic factors and influences relating to oil, the US dollar and Australia's short term interest rate increases. But what does it mean to the general public? How has this influenced the "old gold" market? The GoldSmart Network ( with over 100 retail locations across the country reports a banner week in scrap gold buying. " We have the perfect storm. Gold prices soaring, the economic conditions and the incredible increase in visibility of old gold buyers all creates an optimal environment for consumers to profitably divest of unwanted gold items now", says Keith Perrin, partner of the GoldSmart Network. Scrap gold has consistently out-performed mine supply for well over a year now in North America and it is expected that with these gold prices, consumers will have even more reason to unlock value in broken or unwanted gold items.

Consumers should be cautious, and selective in where they choose to sell their gold and ensure they are dealing with a reputable, Canadian organization, and receiving an honest and fair return, based on the latest gold market values. "It is important to ask whether the market price of gold is updated daily", says Perrin. "Consumers get an immediate receipt for their gold and a current market evaluation direct from GoldSmart, before they decide to sell, and valuations are established using sophisticated and industry-standard technology and sampling processes".

So the message is: Now is a good time to sell and sell to a reputable buyer.

The GoldSmart Network is an independent Canadian gold evaluation company offering a range of choice to consumers and retailers in where and how they sell gold.

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