A Modern Day Gold Rush - Record high prices bring out buyers... and sellers
Gold Prices have hit records in recent days - over $2,000 per ounce - and brought out both buyers and sellers.
The reasons behind the move higher are many and myriad. Investors are anxious to move some of their money into a less risky asset class - from the stock market and crypto currencies.
Economic uncertainty and election year jitters are probably behind it too. Inflation has taken a toll on the value of the U.S. Dollar, and its not yet known whether a recession can be avoided in 2024. Uncertainties in the Middle East and Ukraine add to interest in holding gold too.
Kenny Duncan, Jr. of U.S. Coins and Jewelry says he is seeing keen interest from both buyers and sellers. And opportunities to sell old jewelry are prime as well.