The residents of the Empire State may be a skeptical lot when it comes to anyone offering them money. Maybe the rich history of the darker days of Times Square contributes to their feeling of being jaded. Regardless of why some might be very skeptical of cash for gold NY offers, skepticism exists. The general concern here would be how could someone paying cash for gold be able to make any money on the deal? If there is no money to be made, why make an offer to buy.
The simple answer is money can be made. If those making cash for gold NY offers were not able to make money, they would not be in business. How they make money is nothing mysterious. The profit potential derives from the ups and downs of the market.
Basically, the price of gold is based on the daily fluctuations of value on the open market. In recent years, gold has proven to be very stable and has not experienced any drastic drops in price. The value of gold has increased immensely over the past decade which is why so many people are interested in buying and selling.
How does the cash for gold NY buyer eventually make money? If he buys gold at a fair market price of $200 for what it weighs and the value of the gold increases to $215, he has made a $15 profit. This would be 7.5%. If over the course of the week, all the gold purchased increased in value to 7.5%, these transactions have been enormously profitable for the buyer.