Gold Prices Topping $1,000/Oz, Add Up to a Major Business Increase at Cash for Gold USA

SHARON, Mass., Sept. 9 /PRNewswire/ — Cash for Gold USA reported a big increase in business this week as a result of the major surge in the spot price for gold, silver and platinum. At mid-day today, gold exceeded $1,000/oz, its highest price since March, 2008. At the same time, silver reached a 13-month high as a weaker dollar and inflationary concerns increased the appeal of precious metals.

According to Norman Schneider, president, “Sellers have really reacted to this week’s unique opportunity to sell their broken and unwanted precious metal jewelry for top dollar. Our customer base has increased so fast lately that the Cash for Gold USA staff has been working overtime just to keep up with the incoming property.”

Schneider added, “Gold has only reached the $1,000 level three times since COMEX began keeping records. And by mid-morning today, the market was there again. This bodes well for both Cash for Gold USA and our customers.”

Cash for Gold USA is one of the nation’s premier buyers and refiners of precious metals. The company pays sellers the highest prices available anywhere and offers a 24-hour turnaround from receipt of a seller’s property to payment. Cash for Gold USA was recently named to the prestigious Inc 500 list of the best websites during 2009 by INC Magazine. The company also operates two analogous websites: Cash for Silver USA and Cash for Diamonds USA.

Schneider also stated, “We have always believed that the record gold prices throughout 2009 had not yet reached the top as the current recessionary economy and the value of our dollar are still uncertain and fluctuating. The current peak in prices proves that we were correct in this prediction. Right now, sellers have a unique opportunity to get the highest-possible cash payment so far this year for their unwanted gold, silver and platinum property. We anticipate that our business will continue to rise as long as financial markets remain uncertain.”