Rosland Capital, a Los Angeles gold and silver dealer, filed for Chapter 11 bankruptcy on July 2 and will wind down and liquidate. Record precious metals prices broke its order-fulfillment model, leaving it unable to deliver prepaid orders as replacement costs outran what customers had already paid.
Record gold prices did not save every gold business. Rosland Capital LLC filed for Chapter 11 bankruptcy on July 2, planning to wind down its operations and liquidate its assets, according to court documents. The Los Angeles-based dealer listed $1 million to $10 million in assets against $50 million to $100 million in liabilities, including about $23.6 million in unsecured debt.
Rising prices broke the order model
The failure traces to how gold rose from as low as $1,500 per ounce in 2023 to $4,300 by the end of 2025, peaking at $5,620 an ounce in January 2026. That climb made gold a rewarding trade for investors, but it wrecked Rosland’s economics. The surge prompted more orders than the dealer could fill on time, opening a months-long gap between a customer’s prepaid order and the firm’s own purchase from suppliers.
Because prices kept climbing during that gap, the dealer’s replacement cost often exceeded what the customer had already paid. The company also paid commissions of 15% to 35% of gross profit to sales representatives even on orders that were later cancelled or went unfulfilled. The backlog left a $49 million deferred revenue balance and an $11.8 million buy-back list.
Revenue slid as costs climbed
Rosland’s revenue fell from about $151 million in 2021 to about $97.8 million in 2025. Founded in 2008, the firm sold gold, silver, palladium and platinum bullion and advised clients on precious metal IRAs. It now holds no bullion inventory and retains only limited cash, having terminated substantially all employees by June 19.
The petition named only one creditor, Fox News Network LLC, owed over $1.9 million, while 19 other unsecured creditors owed more than $21.6 million were redacted. The debtor plans a bidding-procedures motion to auction its assets and a liquidating trust to run the wind-down.
Where prices sit now
Gold traded at about $4,175 per ounce and silver at about $62 an ounce on July 3, 2026, according to Forbes, well off the January peak. UBS metals strategist Joni Teves said in a May 12 call that the bank still thinks prices can recover from current levels and make new highs this year.
Source: TheStreet
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