Jewellery sales have plummeted since the rise in the gold price. About half of gold bullion sales are turned into jewellery and you have to consider that if sales are down for jewellery then the price of gold is going to suffer in due course. Anyone sitting on unwanted gold jewellery should now cash their gold and secure the high gold price today.  Cashline offers the very best deals we guarantee to beat the price quoted by Cash4Gold, sellgoldonline, and  bestpriceforyourgold.

A recent survey undertaken by Cashline Pawnbrokers in the West Midlands shows that they came out top on gold lending and purchases of gold from the public far outstripping rivals who buy through the post.

The Office of Fair Trading is currently investigating Internet traders who buy gold over the Internet following complaints from the public.

Pawnbrokers have also been found to be the best place for buying gold jewellery. Much of the gold is second hand therefore the VAT has already been paid saving 17.5% and then a further discount due to the jewellery being second hand leaves the customer with a great bargain.

With the recession continuing and the inflation rate up to 3.5% and unemployment still high people are feeling the pinch. For this reason they are turning to pawnbrokers because they can borrow money against their gold jewellery. The benefit is that they are never in debt because if they are unable to redeem the goods they do not have to repay the loan or interest.

The pawnbroker will sell the items at auction and if the gold price is high the pawnbroker after deducting the loan and interest will refund the difference to the customer.

The gold price is up over 100% in three years so people are cashing in on their broken and unwanted jewellery. But be careful those that advertise cash for gold on television are not paying the market gold price.

According to Chinese horoscopes this is the year of the Tiger but not any Tiger it is the year of the Golden Tiger.  Which means that gold is the most favoured investment if you are Chinese. With China’s population at 1.4 billion such a prediction could have far reaching consequences for the gold price which we expect will rise in 2010.

So gold jewellery is likely to become more expensive and sellers of gold will get better prices.

Cashline Pawnbrokers pays the highest prices for gold and have not been targeted by the Office of Fair Trading for offering gold sellers low prices. Our gold prices are amongst the highest paid.

The watchdog said it was asking five companies to explain claims made in their advertising and on their websites, and give details of their business practices, to make sure they were complying with consumer protection laws.
The call, which followed complaints from consumers, came as Which? Money warned that gold buying companies offered “shockingly bad value” and urged people not to use them.

There has been an increase in the number of companies offering to buy people’s old gold jewellery in recent months, as the price of the metal has soared.

But research carried out by Which? found that the gold companies advertising on television offered people an average of just 6% of the retail price of their gold.
The group sent three pieces of brand new gold jewellery, collectively worth £729, to four groups that promise to buy old gold for cash, as well as to three pawnbrokers and three independent jewellers.

It found the TV gold buyers consistently offered the lowest prices, with CashMyGold offering just £38.57 for all three pieces of jewellery, including quoting just £9.64 for a 9 carat bangle that had been bought for £215, and for which an independent jeweller offered £54.

In another case, Money4Gold told the Which? researcher that a £399 9 carat gold necklace was not gold and demanded they paid £10.95 to have it returned.

Postal Gold increased its offer for all three pieces of the jewellery after the researcher rejected its initial quote, nearly doubling the amount it would pay for two of the items.

Despite this, the quote was still far lower than that offered by pawnbrokers and high street jewellers, who paid an average of 25% of the items’ retail price.

The OFT said it was concerned that consumers’ rights to reject offers and have their gold returned were not being honoured in all cases.

It has not disclosed the names of the companies it has contacted, but said it was considering whether it should change its policy not to name firms at the start of investigations.

Juliet Young, a director in the OFT’s consumer market group, said: “Buying gold using the postal service is a relatively new business model, and while innovation often brings benefits for consumers, we want to check that the market and businesses operating in it are developing in a way that treats customers fairly.”

As part of its research the OFT is also asking consumers who have used the companies to get in touch, although it cannot intervene to resolve disputes between individuals and companies.

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The Cashline Team