Selling Gold In The NYC Diamond District: What You Need To Know

I go to the Diamond District in NYC to see what prices dealers are buying gold back from retail sellers. I talked to a gold dealer who confirmed that he also has many gold and silver sellers, but very few buyers. Because of this many Diamond District dealers are also sending much of what they buy from customers to refineries.
Even though the price of gold and silver has been rising, the large amount of retail sellers with few buyers leave dealers little choice but to lower their buy back premiums and send much of what they buy to the refineries. If you are in the market for gold and silver, the premiums are the best they have been in a long time, but the high prices make it not an overall bargain.
Although there are many gold dealers here, you still have to shop around.
Before you consider buying gold or silver, you need to be aware of how to buy it without overpaying and how and where to sell it will out selling it too cheap.

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