"Pawnbroker Ramsdens has significantly upgraded its annual profit forecast, attributing the boost to record levels of lending as consumers increasingly turn to their jewellery for cash amidst soaring gold prices. The lender and retailer noted the precious metal's higher price was driving demand and bolstering profits."
"Pawnbroking lending hit record levels in February, continuing into March, and boosting its loan book by 18 per cent since the financial year ended in September. Ramsdens' service allows individuals to secure loans against jewellery or watches. The company also purchases unwanted items for resale in stores, online, or to bullion dealers."
"It comes as the price of gold has rallied to reach record highs at points during 2026, as investors sought refuge during global geopolitical uncertainty, conflict and worries about tariffs. Retailers enjoyed a better-than-expected festive sales bounce-back last month amid a boost for online jewellery firms thanks to strong demand for gold and silver."
Pawnbroker Ramsdens significantly increased its annual profit forecast, driven by record lending volumes as consumers leverage their jewelry for loans amid elevated gold prices. The company's pawnbroking lending reached record levels in February and March, expanding the loan book by 18 percent since September. Ramsdens' business model allows customers to secure loans against jewelry or watches, while also purchasing unwanted items for retail sale or bullion dealer distribution. Jewelry shop revenues climbed approximately 25 percent year-on-year. Gold prices reached record highs during 2026 as investors sought safe-haven assets amid geopolitical uncertainty, conflicts, and tariff concerns, benefiting retailers and online jewellery firms during the festive sales period.
Read at www.independent.co.uk
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