With the price of oil soaring, so is the price of gold, which some experts say is to hedge inflation. Right now, the price of gold is just under $900 an ounce. In March, it peaked over $1,000. Experts say investors are looking for a safe haven in gold as the U.S. dollar weakens.
If you have any gold coins, rings, or necklaces just laying around your home collecting dust, you may not realize what you could be getting for them. Lashawn Hildred and her family definitely did not.
"I told my husand that we were going to sell some gold," Lashawn Hildred of
She and her daughter Zoe gathered an old earring, some rings, and bracelets hoping to get a few dollars.
"I walked in with my sandwich bag full of gold, and we got $333," Hildred said.
It was a good surprise, to say the least.
"I think it's cool. I'm tickled pink," Hildred said.
Hildred is one of many shocked by the value of their gold.
"I’ve had ladies start crying when they realize how much they're going to get," Pawn Shop Owner Douglas Braswell, said.
Right now, an ounce of gold is worth around $900. In the past 15 years, it's been as low as $260 an ounce.
"The price of gold has historically tracked with the price of oil," Braswell said.
Braswell says gold is also a hedge against inflation. If you're looking to sell it, it doesn't matter how old or dusty it is.
"If it’s broken, bent, crushed, or you ran over it with your car, it's still gold, regardless of the condition it's in," Braswell said.
And now that Hildred knows that, she's headed home to dig up more gold around the house.
"We will be back, most definitely. We're going to