Tuesday, January 12, 2010

Gold 4 Loans

We've all heard of the "dollars for gold" companies that have sprung up, encouraging people to sell their gold to refiners. In India, a similar trend has developed - except it centers around using gold as collateral for loans.

The lenders are pawnbrokers, but pawning gold is now being called a "gold loan" in part to erase the stingma of taking the family gold to the pawnbroker. This Washington Post story has the details: "In India, gold loans gain popularity as precious metal's prices soar."

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