Price of gold at a 6-year high

Price of gold at a 6-year high


THE PRICE OF GOLD IS NOW AT A 6-YEAR HIGH. 22NEWS REPORTER HECTOR MOLINA IS LIVE IN THE STUDIO…. WITH WHAT CHANGES IN THE PRICE OF GOLD MEAN FOR YOU FINANCIALLY. HECTOR: THE PRICE OF GOLD CAN IMPACT A WIDE RANGE OF THINGS FROM JEWELRY TO INVESTMENTS. GOLD PRICES HAVE RISEN AS MUCH AS 20% SINCE MAY. IT’S CURRENTLY VALUED AT MORE THAN $1500 PER OUNCE. THE RISE HAS BEEN A RESULT OF TRADE TENSIONS BETWEEN THE U.S. AND CHINA. TENSIONS THAT HAVE LEAD TO VOLATILITY ON WALL STREET. MARK TEED OF RAYMOND JAMES & ASSOCIATES TOLD 22NEWS INVESTING IN GOLD TENDS TO BE A SAFETY NET DUE TO THE RISE IN UNCERTAINTY IN THE STOCK MARKET. IT NEVER REALLY LOSE IT’S VALUE THERE’S ALWAYS AN INHERENT STORE OF VALUE IN THERE. IT DOESN’T PAY DIVIDENDS BUT IT’S A SAFE PLACE TO GO, HAS BEEN FOR 3000 YEARS. HECTOR: IN TERMS OF JEWELRY GOLD TRADER IN SPRINGFIELD TOLD 22NEWS NOW IS THE TIME TO SELL. FOR EXAMPLE, A GOLD CHAIN WEIGHING ABOUT 35 GRAMS IS CURRENTLY WIRTH MORE THAN 800 DOLLARS. HECTOR: THEY SAID THEY’VE SEEN AN INCREASE IN THE AMOUNT OF PEOPLE COMING IN TO SELL THEIR GOLD IN RECENT WEEKS.

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