INDIANAPOLIS — At Midwest Jewelry and Bullion its been busy with people buying and selling gold.
"This is an example of what people bring into sell 80’s style necklaces, bracelets, rings,” said Tony Jordan the owner.
Jordan is sifting through a box of those items brought in.
“Something like this is probably 2 or 3 thousand dollars in today’s gold price,” said Jordan.
Jordan says he sees about 30 to 40 people a day coming in to buy or sell gold because right now prices continue to be at all time highs.
“It amazes me. I’ve been in business for 38 years, when I started it was $260 dollars an ounce,” said Jordan.
Last week, the price of gold surpassed $3,500 per ounce for the first time. On Tuesday it was around $3,330.
“I watch it every day, every second. It’s like a stock analyst or anything else you just watch it and go,” said Jordan.
The price of gold is up $1,000 from a year ago and more than 30% since the start of the year. Experts say it’s due to the current state of the economy.
“Uncertainty and inflation,” said Jordan.
If you are going to buy and sell, Jordan says there are some things to keep in mind that includes making sure it’s someone you trust, get two or three offers , and don’t buy anything from telemarketers.
