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CHICAGO A brand new form of gold rush is unfolding at jewelry retailer and pawnshop counters featuring not prospectors, but shoppers.
Whitecollar workers, retirees and lots of other people have already been digging via jewelry boxes and safety deposit boxes to money in as gold rates flirt toptechmagazine blog $1,000 an ounce. Coins, old wedding rings, necklaces provided by exboyfriends, handmedown gold pieces everything is fair game when it brings this kind of profit.
Shop owners across the country are marveling concerning the phenomenon they say began inside the latter element of 2007 and accelerated via the winter, reflecting torrid gold demand like none had ever seen. There are even gold parties, exactly where people today gather to sell their jewelry.
"Everybody's wanting to sell," stated Richard Rozhko, owner of a jewelry store around the northern edge of Chicago. "People are wanting to money out mainly because they do not think that gold's going to go greater than $1,000 or $1,200" an ounce.
Rachel Weingarten, a new Yorker having a selfdescribed obsession with "shiny trinkets," did not have to sell but could not resist the opportunity when she saw prices soar like an overinflated tech stock.
"When I saw the costs going through the roof, I saw it as an remarkable chance to rid myself of jewelry that no longer suits my taste or status," mentioned Weingarten, a marketing consultant. "It's also been a great deal of enjoyable to get money for stuff that may be broken or simply really ugly or simply takes up area in my drawers."
Royal Pawn Shop, a 75yearold organization within earshot louis vuitton uk bags cheap your rattle of passing El trains in Chicago's South Loop, has show instances sporting fancy gold rings, bracelets and watches in conjunction with racks holding numerous pawned fur coats. It also has extra office workers as prospects these days largely sellers, not buyers, bringing in gold chains and rings.
Stuff was lying about
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