Pawn Shops Highlight Economic Struggles Ignored by Biden Administration
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US consumers are turning to selling their gold jewelry as a means to cope with rising inflation and the looming economic crisis. The increase in gold prices has incentivized consumers to cash in on their broken jewelry. While in March, customers were selling their old jewelry to invest in the stock market, the current trend is driven by the need to make mortgage payments. The surge in gold recycling aligns with the demand for safe-haven assets due to geopolitical uncertainty. However, consumers are more focused on the state of the domestic economy and remain skeptical that inflation will subside. Despite the Federal Reserve's confidence in controlling inflation, concerns about a potential recession persist.
Pawn shops are experiencing a pile-up of inventory, indicating tough times for lo...
#newstr #PawnShops #Economy #Biden #FinancialStruggles #Debt