High gold prices drive business to pawnshops, jewelry stores - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

High gold prices drive business to pawnshops, jewelry stores

Posted:

LAWTON, Okla. – If you have any gold you are not wearing or using, you will want to run, not walk, to the nearest pawnshop or jewelry store.  They same goes for silver, because both are at all-time highs in value.

That is one big reason Lawton pawn shops and jewelry stores are seeing brisk business these days.  It is a good time to sell gold and silver.  Gold is valued at $1,500 per ounce.  Silver is at $45 per ounce.  And some Lawton merchants are happy to buy from you.

Business is booming because precious metals are worth more than ever.

"Over the last month or two months, it's been a 25 percent to 30 percent more business," said pawn broker, Keegan Wright. 

Wright says that is why folks are going for the gold and silver.

"We have seen an increase in customers coming in due to the price of the precious metal value going up in gold and silver," said Wright.

It is not just pawnshops seeing more customers.  Jewelry stores are too, and they say the time is right to sell.

"I would say get rid of it now.  You don't know what the markets going to do.  It's at its highest it's ever been.  $1,400, a little bit over, $1,497, it's a prime time to do it," said jewelry store manager, Kara Tipton.

Although the "gold rush" is on, both businesses caution sellers and buyers to do their homework.  Do not trust just anyone to give you an honest deal.

"I say stay away, if you can't enter a door and speak with somebody personally, stay away.  We are licensed dealer, so we are licensed to purchase and sale and trade in the gold and silver and that's what you need to stay from, mailing it in," said Tipton.

They say you yourself should witness the acid test.

"I would prefer that you take it to someone that does it right in front of you and weighs it for you and does a test right in front of you and tests it and gives you a price," said Wright.

Both shops tell 7News you should be 100 percent sure whether you want to buy or sell, because you usually only have a few days if you change your mind.  Most stores have a 10-day policy to return or claim your merchandise.

  • Local NewsLocal NewsMore>>

  • Gun shot victim shows up to hospital

    Gun shot victim shows up to hospital

    Saturday, April 19 2014 9:34 AM EDT2014-04-19 13:34:21 GMT
    A Lawton man was taken to the hospital late Friday night after suffering a gun shot wound, but police are still searching as to how it happened because the man has been uncooperative.
    A Lawton man was taken to the hospital late Friday night after suffering a gun shot wound, but police are still searching as to how it happened because the man has been uncooperative.
  • SkyWARN 7 Forecast

    SkyWARN 7 Forecast

    Saturday, April 19 2014 7:02 AM EDT2014-04-19 11:02:28 GMT
    What a nice end to the work week with sunshine, south winds and temperatures ranging through the 70s and even some low 80s out near the Texas panhandle.  For this evening expect temperatures to fall through
    Warmer For Our Saturday....
  • Vigil honors former Duncan doc, grandson after being gunned down

    Vigil honors former Duncan doc, grandson after being gunned down

    Saturday, April 19 2014 12:21 AM EDT2014-04-19 04:21:57 GMT
    MARLOW, Okla._ Mourners gathered outside Marlow High School to remember the lives of Dr. Bill Corporon and his grandson, Reat Underwood. The two were gunned down Sunday by a former leader of the Ku Klux
    Mourners gathered outside Marlow High School to remember the lives of Dr. Bill Corporon and his grandson, Reat Underwood.
Powered by WorldNow
KSWO-TV, 1401 SE 60th Street
Lawton, OK 73501

Telephone: (580) 355-7000
Fax: (580) 357-3811
Email: news@kswo.com

All content © Copyright 2000 - 2014 Worldnow and KSWO. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.