Most convenient New York pawnbroker with 20+ branches in NYC area! Stop by and get cash for your gold! We've been the largest gold buyer in NY for over 60 yrs!

Factors That Help Determine the Price of Gold

Gold and other precious metals can make for excellent investments, but it is helpful to understand the way the market works before diving in. You will feel more confident walking into a pawn shop armed with knowledge about the various elements that influence the value of these metals. Continue on for a closer look at the factors that help determine the price of gold.

Supply and Demand

People typically attach value to rarity; the more difficult something is to find, the more valuable it becomes; this then causes its price to increase. Gold is no exception to this rule. When the demand for gold increases and the supply decreases, you can expect gold to become more expensive. The price of gold will decrease when the tide shifts in the opposite direction. Jewelry and industry uses may contribute to a higher demand, especially in countries where gold jewelry is particularly favored.

The U.S. Dollar

Although different countries often stick to their own currencies, the United States dollar is frequently used in international trades. This is important with regards to the price of gold because the two entities are linked. When the U.S. dollar loses strength, the price of gold tends to increase. On the other hand, the price of gold will decrease when the U.S. dollar index rises. It is also worth noting that certain individuals take the opportunity to buy gold while the U.S. dollar is strong.

Global Uncertainty

In today’s chaotic world, people need certainty. The value of gold tends to remain stable even when the price fluctuates, which makes it a desirable commodity during times of crisis. The price of gold may increase when the stability of a certain country or region comes into question.

For more information about the factors that help determine the price of gold, call Gem Pawn Brokers at 718-596-5626. We are a pawn shop in NYC that specializes in diamond and gold buying. If you are looking for a trustworthy pawn broker in the area, feel free to visit our website or stop in and meet with us for more information today.

What to Bring to the Pawn Shop

If you need cash and have something of value, bring it into your local pawn shop. It is important, however, to make sure it is actually valuable. Watch this video to find out what to bring to the pawn shop.

When you bring something to a pawn shop, it should be something worth buying. If the shop accepts your item and offers you a loan, they will aim to resell the item if you do not repay the loan. This means that the item you use as collateral must be valuable to the general public. Bring in digital TVs or lightly used watches, not broken camcorders or things you just don’t want.

Gem Pawn Brokers is a NYC pawn shop that offers a variety of quality pawn services. We specialize in watch, gold, and jewelry buying. If you are looking for a pawn broker in your area, call us at 718-596-5626 or visit our website.


The History of Gem Pawnbrokers

When you are in need of the best pawn services in NYC, be sure to look no further than Gem Pawnbrokers. For nearly seven decades, we have provided our satisfied customers with the best pawning services in New York City. Our company can trace its history back to 1947, when the first Gem Pawnbrokers location was started by Martin Kaminsky. As the popularity and reputation of Gem grew, the business eventually expanded to include no fewer than 27 locations across New York City. Today, our family owned and operated business proudly offers top quality pawn broking services.

For more information about the benefits of doing business with Gem Pawnbrokers, give our NYC location a call at (718) 596-5626. Our pawn brokers specialize in gold buying and estate buying, and we will give you a great price for your items. We look forward to providing you with a terrific pawn shop experience.

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Incredible Facts About Pawnshops

Pawn shops are a common sight in towns across the United States. Along with being incredibly popular in this country, pawn shops are also main street fixtures in many different parts of the world. In fact, today’s pawn shops are the result of a rich history of pawning across the ages. If you are considering visiting your local pawn broker in NYC, be sure to check out these incredible facts about pawnshops.

Pawn Broking Is On the Rise

Pawn broking is an invaluable service, and the number of pawn shops has been steadily on the rise. In fact, between 1911 and 1988, nearly 5,000 new pawn shops opened their doors. Pawn shops have become increasingly popular due to their quick and efficient cash loaning services. In fact, as much as 10 percent of all adults use a pawn shop each year.

Pawn Shops Have a Universal Symbol

If you have visited a local pawn shop, you may have noticed a sign with three gold balls hanging in the doorway. This type of sign is actually the universal symbol for the pawn shop. The three ball motif dates back to the Renaissance era in Europe, when the Medici family controlled much of the money lending across the continent.

Pawn Shops Carry a Variety of Goods

Many pawn shops cater to clientele who are seeking specific types of luxury goods. Among the incredible items that have been sold at pawn shops are jet airplanes, Rolls Royce Cars, and 10 carat diamonds. If you are seeking a particular type of item, chances are that your local pawn shop may be able to help you.

When you are in need of pawn services in NYC, be sure to pay a visit to Gem Pawnbrokers. Our friendly staff will be thrilled to answer any questions that you may have about the pawning process, and we will be happy to look at your jewelry, watches, or other items. Call us at (718) 596-5626 to learn more about some of the items that we have in stock.

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