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Cash4Gold bonanza hints we're nowhere near a top in gold
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Monday, October 05, 2009
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By Daily Crux Editor Justin Brill:

If you watch any TV at all, you've probably seen the Cash4Gold ads offering to buy your unused gold jewelry and watches for quick cash. You might be surprised to learn just how many people have been taking them up on the offer.

The company reportedly brought in $90 million in total revenue last year, and made a cool $30 million in profits after accounting for advertising and cash payouts to sellers. It's projected to do even better this year.

Gold is likely headed lower in the short term, but long term, all this public selling tells us we aren't even close to a top.

Read full article...

More on gold:

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Topics: Gold | Commodities
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