Los Angeles – At the largest jewelry center in the United States, Alberto Hernandez opened his machine in a recent day and until it was shining in the storage of the weighing bar of the rings, earrings and necklaces, the bright orange burns in the weighing bar: only 100 grams, or 3.2 below the Troy ounce.
A few minutes later, the bubble liquid metal was cool in the form of a woman’s shoe in a rectangular. An X-ray machine has determined that it was 56.5% gold, it made 7777,000 dollars on the basis of gold prices that day.
With the higher record of gold prices during the global economic jerk, several thousand dollars of gold gold is being promoted through the door of the St Vincent Jewelry Center in Los Angeles, in the suburbs.
Many of the 500 distinct tenants in the center, which include jewelers, gold refinners and assieces, say they have never seen this national enthusiasm among the customers.
“Now, we see a lot of rapper and staff melting their big pieces,” said Alberto’s nephew, Sabashden Hernandez, who works on one&M is precious metal. “We are getting lots of new customers who just get their grandfather all the things, it is melting quite a bit”
The current rally of gold has come up with President Donald Trump to build tariffs, financial markets and threatening to rebuild inflation.
In response, people all over the country are quick to sell or melting for cash, which are the owners of the shops like intermediaries like intermediaries. Others, their money is spreading it right away, thinking that the voltile can be safe in gold than the market market.
Los Angeles Jeweler Olivia Kazanzian says people are even bringing family successors.
“They are melting things with their family’s wedding date and the 1800s things,” Kazanzian said.
He recently provided a 14 carat gold knit bracelet to a client with complex blue enamel work that could turn a broch. The customer left with $ 3,200 for the amount of gold measured in Troy ounce, the value of precious metals equivalent to 31 grams.
However, Kazanzian does not plan to melt this piece. He said the original artistic and historical tihassic value was high.
“It’s just stunning … and you will never see this kind of craft again,” Kazanjian says he has persuaded some customers to change their mind about melting items. “It’s a part of history, and if you are lucky enough to be inherit it is a part of your family” “
The sales of the action parties are working hard to maintain insanity, providing gold bars and other material.
“The stuffs come out and go out,” said Stefko Cash owner Edwin Faizu for gold in Pennsylvania, “Stefko cache owner for gold in Pennsylvania and gets their gold from customers in the United States. “Now everyone is busy.”
Although the business is not good for everyone.
For some jewelers who sacrificed their products from abroad like Italy, Türkiye and China, the melody of high gold prices and the combination of connected tariffs has dropped and demanded the demand.
“Our profit margins are so thin here,” Pujant Barberian says whose family V was found&P jewelry inside St Vincent in the 5th. Barberian said he recently provided an additional $ 16,000 in a package from abroad.
Customers are feeling “sticker shock” when they cannot use their uses. Barberian said a limestone weighing about 10 grams (0.32 Troy ounce), 14 carat gold bracelet could be sold for about $ 600 last year, but now it is around $ 900, Barberian said.
Some believe that these trends can continue for both consumer and business.
According to Sam Engwin, Newport Gold Post Inc., for five years, has sold gold and other precious metals in Saint Vincent, according to Sam Engwin, customers will increase more in hopes of buying Boole.
Jeff Clark agrees. The founder of the gold adviser, which offers investment suggestions, said that if the metal is considered as shelter for parking money if the gold prices are increased, then he will not be surprised.
“History shows that it has gone a long way in the past,” Clark said, in the 1970s, when the average price of gold has increased by 17 times in the rate of double-digit inflation, a frenzy mentions an madness. “If fear and uncertainty in the general population continues, prices are about to rise further.”
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