Answer
Sep 11, 2024 - 01:31 PM
The secondary market for gold refers to the marketplace where previously owned gold items, such as jewelry, coins, and bars, are bought and sold. Unlike the primary market, where gold is sold directly from producers or mints, the secondary market involves transactions between private individuals, pawn shops, and other resellers. This market allows for the recycling and redistribution of gold, often at prices influenced by current market conditions and the item's condition.
