Tuesday, March 12, 2013

Did pawn shop loans really increase so much in 2012?

In 2011, pawn shops gave out about about $5 billion worth of loans; this number jumped 43% to $7 billion in 2012. Much has been said about this, for instance about how this was because of the casinos. However, gold prices have also been on the rise, can this account for the increase given that gold is typically the item of choice for pawning?