The price of precious metals, namely gold, is skyrocketing.
Scott Isaacs, jeweler, said, “Four years ago people were saying gold would hit $1,000 [an ounce], I thought they were crazy.”
Although Scott Isaacs of Belle Meade Jewelry and Repair didn't foresee the $1,000 mark, he did know that gold would hit record highs.
At last look, gold was trading at $930 an ounce. When Isaacs entered the jewelry business, he said, gold was $285 to $300 an ounce.
The spike happened in 2006, when Isaacs priced a gold bracelet at $900.
Today, he could very well price it at $1,500, which he said a lot of jewelry stores are...
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