Gold is at an all-time high - WALB.com, South Georgia News, Weather, Sports

Gold is at an all-time high

By Wainwright Jeffers - bio | email

ALBANY, GA (WALB) – The price of gold is at an all-time high.

On Wednesday, gold traded at $1,245 an ounce before dropping slightly.

Those high prices are leading more south Georgians to sell their gold for some extra cash.

Steve Allen keeps up with the changing prices. Recently, his jewelry business has been buying more scrap gold.

"People are wanting to exchange old gold and trade it for new merchandise we've seen a lot of that especially this week," said Steve Allen, Allen's Jewelers.

Gold was down to $400 an ounce just a few years ago.

One analyst predicts it could go as high as $2,300 in the next five years.

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