Why do we say ‘gold sucks’?
You may have seen our ads that say “Gold sucks.” Why would we say that? Aren’t we “cash for gold”? We are. And when we say “gold sucks,” that doesn’t mean we don’t like gold.
We love gold. We buy it. We sell it. We will lend you cash on the value of your gold.
What we don’t do is predict where the price will go next. If you bought gold a year ago, you should be feeling pretty good. The price is way up.
But if you bought a couple of months ago, maybe you feel like you made a mistake. The price is down a couple hundred dollars an ounce.
Gold sells at a world price. We use the New York spot price, which is set by factors far beyond Maui.
Let’s say you are one of those people who bought gold when the price was close to $1,800 an ounce. And you need some cash today. You wouldn’t want to sell and lose $200 an ounce (based on the NY price as this is typed).
But you can bring your gold in and get a loan. We will give you the most we can based on today’s price.
Pay us back in 30 or 60 days and keep your gold. In case it goes back up past $1,800 or whatever price you paid.
So, in our view, gold only sucks if you are forced to sell. And at Kamaaina Loan Cash for Gold, we offer you another choice.