, (PressExposure) April 27, 2009 -- The price of gold is on the rise and the effects of the high price is being felt worldwide; even in the âCity of Goldâ, Dubai. As the world tumbles into an economic crisis, the Middle East reverts to their cash reserves, buying up what they consider a good investment in a bad economy - gold. The result is a shortage of gold and scrap gold in the Middle East.
According to Bullion analyst Mark Robinson âturning gold (scrap) into gold coins and then selling it in the Dubai Market is big business.â He goes on to point out that countries like India that used to import gold from Dubai are finding themselves exporting gold to the Middle East, a real turnaround of events. The reason can be blamed on the state of the world economy, which is reflected in the amount of gold exported from the Middle East. The export of gold from Dubai has increased by 29 percent in 2008, when compared to 2007 export numbers. This increase has caused the market in the Middle East to face an unprecedented shortage of gold. As gold prices continue to rise and are expected remain high through the year, the cash strapped population is cashing in their gold.
Bud Blair agrees with the sellers, âThis is a good time to sell your gold scraps.â Blair of GoldTreeOnline.com explains that with the famed City of Gold scrambling for gold scraps, sellers looking for cash should take advantage of the shortage of the scrap gold and sell their gold easily and conveniently online.
Blair of GoldTreeOnline.com adds that âSelling gold online is big business with gold prices near all time high,â he also warns that consumers looking for online cash sales should be careful where and for how much they sell their gold. âBefore you sell your old jewelry or other gold itemsâ¦, think about whether or not you could be getting a better price.â
As gold continues to be the source of liquidity sellers of scrap gold and jewelry will continue to be in demand. Sellers will have to sift through the numerous online companies to find the best price for their gold. Analysts do not foresee the scrap supply outrunning the interest in gold investments. This translates to continuous market for gold scraps.
GoldTreeOnline.com is an online company that purchases gold scrap and jewelry. The company founded by Bud Blair, a seasoned jewelry with 29 years in the jewelry business, is able to offer the best prices and services. http://www.GoldTreeOnline.com achieves this by having a direct association with some of the largest refiners.