1 year, 4 months ago
via gold-questions.com
What do the places that buy gold for cash use it for?
Are sites that say that they will pay you cash for old gold a scam? How much money can you really make trading commodities?
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M$1 Answer
Many of the place which will buy gold actually simply re-sell it to a broker, who will hold onto it until prices rise in the gold market. Ultimately, much of the sold gold will be melted down and sold for it's value on the market. Other places which buy gold jewelry in particular will re-sell the piece either at auction, online, or in a pawn shop setting. Sometimes they will polish the piece or replace a broken clasp, etc. and sell it for far more than they paid the consumer. The prices you are likely to receive from the 'cash for gold' mail and online outfits is probably a fraction of that actual value for the gold.
How much you can make trading commodities will depend on your skill and experience. It is generally not a field to take lightly, as you can loose far more than you can imagine without adequate training and understanding of the principles of the market economy and financial dealings.
How much you can make trading commodities will depend on your skill and experience. It is generally not a field to take lightly, as you can loose far more than you can imagine without adequate training and understanding of the principles of the market economy and financial dealings.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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