(Newswire.net — October 12, 2013) Los Angeles, CA — A Los Angeles based gold buyer is reporting the fear of an extended government shutdown is causing people to sell their gold and jewelry so they have prepared.
The government shutdown is now in its 11th day and with 350,000 government workers on furlough the US has taken an economic hit. The news gets worse though, as the President and Congress continue their standoff, because October 17 looms close and this is the day the debt ceiling of $16.7 trillion must be raised. If it is not raised the US will not have the money to pay back outstanding loans for the first time in its history.
Failure to get the government functioning again and the debt ceiling lifted will, in most people’s opinion, lead to an economic landslide with increasing inflation, rising prices, fewer jobs, falling currency and falling gold prices.
This pessimistic outlook has driven some to decide that now is the time to get some cash-in-hand as a precautionary measure. One of the ways they seem to be doing this is so sell gold and jewelry. Art, one of the owners of Cash Gold Exchange, a Los Angeles based Gold Buyer, is reporting an upturn in the number of people walking into their Los Angeles store and in the number of people sending in gold and jewelry via their mail-in service.
When I asked Art what his customers were telling him he said “People are afraid the government shut down will continue for a while longer, and with the threat of possibly losing their jobs because of economic issues, they are deciding that now is a good time to sell and raise cash.”
Art went on to explain that it is not just the government shutdown that is causing people to sell, it is also worry that the price of gold will continue its downwards trend. “The price of gold has been up and down, and everywhere you turn experts give differing opinions as to the future. Many people want to sell the gold and jewelry, but have been on the fence thinking prices may rebound. What has happen over the last 10 days and the big price drop has finally convinced them that now is the time to sell.”
To get the guaranteed highest payouts for your gold and all types of jewelry you can visit Cash Gold Exchange at the address below, visit their website at www.cashgoldexchange.com or call 1 (877) 747-0202.