Gold prices hit record highs, creating new opportunities for local customers
Over the past several months, the price of gold has surged to record levels, up more than 50 per cent compared to this time last year. The owners of Bogart’s Jewellers say the spike is opening new opportunities for customers.
At its peak just last month, gold broke the five-thousand-dollar mark, reaching approximately $5,500 an ounce. Those record prices are proving beneficial for people who may have old or unused gold tucked away in their jewellery boxes.
Broken chains, single earrings, and outdated rings are just some of the scrap gold items customers have recently brought into the store. In return, they’ve received either a cheque or store credit.
Owners Richard and AJ Rooney say being a local business shapes how they approach the surge. By buying gold locally, they’re able to keep money within the community while recycling the gold into new jewellery pieces.
With the rising cost of living putting pressure on many households, selling unused gold is becoming an option for people looking to ease financial stress.