Gold prices climb to unprecedented levels -, South Georgia News, Weather, Sports

Gold prices climb to unprecedented levels

Clinch County investigators arrest four people for stealing jewelry from a home. One of the suspects is victim's son.

Investigators say the attraction of easy money from gold led him to break into his own mother's house.

Investigators say Chad Tiner broke into his mother's house in Clinch County along with three others and stole thousands of dollars in gold jewelry. While investigators say their biggest problem is scrap metal thefts, they say gold is easy money.

Jewelry appraisers like Ron Carter keep an eye on the market.

"Gold in the last year has climbed astronomically," said Ron Carter.

The price fluctuates each day.

"They're talking it could go up as much as 25-hundred dollars an ounce by Christmas," said Carter.

He says it's all tied to the economy.

"Back in the eighties everyone was holding out for gold to hit a thousand dollars an ounce," said Carter. "It never made it and a lot of people lost their shirts."

He says in the last year it's really shot up. It was going for more than $1,800 this morning. He says a lot of customers are turning to metals like silver and titanium. 

"A lot of people can't afford gold at the price it is at and they want jewelry so they're going to alternate metals," said Carter.

But even with gold reaching unprecedented value, there's no guarantee the market will stay as good as it is. And if you're pawning stolen jewelry, you might get caught like these suspected burglars did.

Troy Whittle, Chad Tiner, Ashley McMillian, and Justina Bolick all from Brunswick are charged with burglary in that case.

Copyright 2011 WALB.  All rights reserved.  

Powered by Frankly