Time to sell your jewelry? Precious metals like gold reaching record prices

The price of gold is setting records, going for over $1900.

“Gold is kind of a safe haven for investors, and really four or five years ago when I bought the metal, that was kind of my thinking,” said customer Dennis Smith.

Katelyn Reagan, Treasure Hunt’s director of operations, said they noticed an increase in customers stopping by since the gold prices started going up.

“What we’ve been seeing now is more of a gradual rise, over the past few months, especially since March,” Reagan said.

Back in March, gold prices went as low as $1491, but this month they reached over $1967. For silver, March showed the prices down to $12.27 per ounce, but that nearly doubled in July.

Customers aren’t just selling; Reagan said some customers are also buying gold and she has noticed something from her customers.

“High gold prices can definitely reflect the current state of the economy. A lot of times people theorize that if stocks and the economy, you know, isn’t looking great, that metals tend to be high,” Reagan said.

If you’re considering selling some jewelry you at have have sitting around, it’s important to note it’s very rare to have pure gold. Some of the most common jewelry is made of 10 and 14 karat gold, so the rate will reflect that.

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