With gold prices hitting record highs, jewelry collectors are taking advantage of the opportunity to cash in on their old gold pieces. Market analysts attribute the surge in prices to factors such as geopolitical tensions, tariff turmoil, and increased demand from central banks. Investors see gold as a safe-haven asset during economic uncertainty, leading to a rush to offload gold items for profit.
Independent jewelers are benefiting from the influx of customers looking to sell their gold jewelry, but caution is urged as some pieces may hold more value as antiques than as melted metal. In Los Angeles, one jeweler, Olivia Kazanjian, advised a customer to keep some rarer pieces intact and redesign others to maintain their value.
While the frenzy to sell gold items is evident, experts warn that individuals may not get rich from melting down their gold jewelry. Nonetheless, the current gold rush has seen an increase in security measures within the jewelry industry, with recent thefts of millions of dollars’ worth of gold and jewels in downtown Los Angeles.
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