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April 26th, 2011Gold Fever Hits Mall Kiosks

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by Stephanie Landsman
CNBC.com

The next frontier for the gold rush is the neighborhood malls.

Gold kiosks, places to sell broken or unwanted jewelry, coins and dental gold, are mining for business between the food courts and ATMs.

Gold Buyers International, which operates Gold Rush and Gold Buyers America, is aggressively opening kiosks in malls all over the world. The company, which began in 2008, has been riding the wave of record gold prices. It now operates nearly 200 carts in just the United States and expects to have a presence in 40 countries by next year.

Gold Buyers America Director Of Operations Justin Ballard said his company provides accessibility and a secure place to sell gold. He adds the company’s kiosks are licensed and must meet strict requirements in each locality in order to do business.

“We do everything right in the open and in front. There’s no smoke and mirrors. And, we tell customers why something is worth what it is. It’s a total customer experience and we have a lot of repeat business. There is a lot of trust involved,” said Ballard.

Read complete article.

“The Gartman Letter” editor and publisher Dennis Gartman, a trader for 35 years, said seeing more and more gold kiosks at the malls is not a sign of a market top.

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