During the week's frantic trading, the value of gold reached a record high.
It has been a roller coaster week for the stock market, shaking up the market's highs and lows on Wall Street. As a result, investors are turning to gold metal for security. John Lis, President of William H. Diller Jewelers, told 69 News on Friday that the price of gold has spiked from around $1,400 an ounce in January to now trading around $1,800. Lis stated the value of gold's price tag reached a record high."Never in the history of the United Stated has the price of gold been as high as it is right now,"Lis told 69 News that he has been in the business of buying and selling gold jewelry for over 30 years. "We have seen the ups and downs of the precious metals marketNow more than ever, Lis stated that people are making a pretty penny from digging into their jewelry boxes. Because of the highs and lows of the stock market this week, Lis told 69 News the amount of people exchanging their gold for cash has doubled."It's an excellent time for anyone to sell their precious metals whether it's jewelry, coins, diamondsAnalysts on Wall Street claim that more people are starting to take money from their stocks and bonds and invest in gold. Some analysis predict that gold could reach as high as $2,000 an ounce later this year. Before you try cashing in on your gold, Lis told 69 News there are some things to be aware of. Typically, those trying to sell their gold jewelry get 20 to 30 percent less of the market value when trading in gold for cash. Secondly, stay away from 'cash for gold' type businesses that relocate constantly. Lis stated by going this route, you are risking the chance of getting ripped off."First of all, they are not from the community and they don't have to face their customers the next day
It has been a roller coaster week for the stock market, shaking up the market's highs and lows on Wall Street. As a result, investors are turning to gold metal for security. John Lis, President of William H. Diller Jewelers, told 69 News on Friday that the price of gold has spiked from around $1,400 an ounce in January to now trading around $1,800. Lis stated the value of gold's price tag reached a record high."Never in the history of the United Stated has the price of gold been as high as it is right now,"Lis told 69 News that he has been in the business of buying and selling gold jewelry for over 30 years. "We have seen the ups and downs of the precious metals marketNow more than ever, Lis stated that people are making a pretty penny from digging into their jewelry boxes. Because of the highs and lows of the stock market this week, Lis told 69 News the amount of people exchanging their gold for cash has doubled."It's an excellent time for anyone to sell their precious metals whether it's jewelry, coins, diamondsAnalysts on Wall Street claim that more people are starting to take money from their stocks and bonds and invest in gold. Some analysis predict that gold could reach as high as $2,000 an ounce later this year. Before you try cashing in on your gold, Lis told 69 News there are some things to be aware of. Typically, those trying to sell their gold jewelry get 20 to 30 percent less of the market value when trading in gold for cash. Secondly, stay away from 'cash for gold' type businesses that relocate constantly. Lis stated by going this route, you are risking the chance of getting ripped off."First of all, they are not from the community and they don't have to face their customers the next day
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