Business is booming at Jewelry on James
/ photo by Brian Mueller
SYRACUSE -- There could be a treasure chest in your own home. Jewelry on James in Syracuse says they are busier than ever with people trying to sell their gold. "If you need the money, now is a great time to sell it ," Tom Marini the store owner says. "People are selling gold jewelry, silver jewelry and flatware."
Gold prices have been skyrocketing as markets struggled worldwide. Right now gold prices are trading for $1,742.10 an ounce. The metal has retreated a little from yesterday's highs pushing past the $1,800 mark.
"I told my whole family to sell all their gold at 900 dollars and ounce, its almost 1,800 dollars an ounce now. Nobody has a crystal ball but its higher than I could ever imagine in my 23 years of working," said Marini.
If you want to find out how much your jewelry is worth, you can bring it into a shop and businesses will weigh it and give you an estimate.
On the other side, is now a good time to invest in gold?
"Most investment advisors suggest that gold is very very expensive and very volatile," says Grace Ghezzi, vice president of Benefit Consulting Group. "If you have it you should keep it or maybe even trim you position, take some gains off the table. If you don't currently own it, now would not be a good time to purchase it."
Ghezzi says if you have money to invest in the stock market, put it in "comfortable companies that have good earnings reports." She says there are buying opportunities and a good time to try and get a bargain.
