Gold parties, never heard of that one before

[MRBeyer]

http://www.foxnews.com/us/2011/11/29/gold-parties-popular-new-trend-in-tough-economy/

Apparently its something new where people can sell that gold at a gold party and the host of the party gets a cut. Opens doors for precious metal buyers that they didn't have before.


Tried posting this in treasure in the news but couldn't make it work there.

 

[Sandman]

When ARA and Midwest Refineries are buying scrap gold for 98% to 96% price of spot, why would anyone sell their old gold jewelry for pennies on the dollar where they are lucky to get 35% of spot. The buyer and the host are the only ones that are making a huge profit. Worse the sellers are now PO'ed at the host that invited friends which were stupid enough to sell.

 

[diggummup]

When ARA and Midwest Refineries are buying scrap gold for 98% to 96% price of spot, why would anyone sell their old gold jewelry for pennies on the dollar where they are lucky to get 35% of spot. The buyer and the host are the only ones that are making a huge profit. Worse the sellers are now PO'ed at the host that invited friends which were stupid enough to sell.

Thank you Sandman. I couldn't have said it any better.