The do’s and don’ts of buying and selling gold: See the New Yorkers cashing in as prices hit record highs
NY Post
When David Kleinman realized just how much the price of gold had gone up, he beelined to the Diamond District with a bag of his wife’s unused jewelry.
And, after Alon Mirzaev, manager of U.S. Gold Refinery on 47th Street, handed him $659 for the three gold rings and two gold necklaces his wife never wears, he’s pretty sure he now has the Midas touch.
“I’m not really a jewelry buyer and I had no idea how much gold was in these items,” Kleinman, an HR consultant who lives on the Upper East Side with his family, told The Post.
“I’m a little surprised that this small bag of jewelry was worth this much.”
The owners of the stalls lining the street are watching as the gold market continues to soar minute by minute, hour by hour.
At press time, gold prices were trading at a staggering $3,322 per ounce. While that’s off last week’s record high at $3,500, it still represents an annual increase of around 35% compared with a year earlier versus the average annual uptick of 5% to 10%.
