Gold Prices Push Consumers to Sell

A new kind of gold rush is unfolding at jewelry stores and pawn shop counters, featuring not prospectors, but buyers. White collar workers, retirees and many others have been digging through jewelry boxes and safety deposit boxes to cash in, as gold prices flirt with $1,000 an ounce. Coins, old wedding rings, necklaces given by ex-boyfriends, hand me down gold pieces, everything is fair game when it brings this kind of profit. If you have some extra money now is a good time to hit the pawn shops for some real bargains and they should get even more valuable with the U.S. dollar going down so bad. I don't think I have anything that valuable around here so no use looking. :0)

Gold Futures Top $900 an Ounce For the First Time

Gold futures briefly rose above $900 an ounce for the first time as high oil prices, a weak dollar and fears of a U.S. recession led uneasy investors to keep buying the precious metal. An ounce of gold for February delivery on the New York Mercantile Exchange jumped $6.50 to $900.10 in morning trading. This was an all time high and a psychologically important milestone. Gold later slipped to $898.70 an ounce on profit-taking but remained in record territory. Still, when adjusted for inflation, gold remains well below its all time high. An ounce of gold at $875 in l980 would be worth $2,115 to $2,200 today.