Gold prices: "All that glitters is gold" - - Jackson, MS

Gold prices: "All that glitters is gold"

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JACKSON, MS (Mississippi News Now) -

These days some say "all that glitters is gold."

With a sour economy, the current blitz to buy and sell, driven by record gold prices has generated a lot of trading.

Bill Mosley has owned and operated Bills Coin and Stamp for 30 years.

Mosley is a U.S. Mint distribution point for gold coins.

"If you don't follow the gold market you are not on top of the situation," Mosley said.

These days he's very attentive to gold prices.

"That would be $1,844.73 for this one ounce coin, this $50 dollar gold piece," Mosley said.

Several factors are fueling the higher gold prices which fluctuate daily.

At one point Tuesday the price hit $1,782 up $24.60 cents from Monday.

But this business is not seeing a huge volume of people wanting to sell or buy these expensive 50 dollar American Eagle coins.

"It's slowed down some these high prices don't really help us that much," Mosley said.

More people are coming in hoping to fetch high dollars for their gold jewelry, but experts say the value is not the same as the big gold pieces.

Bill won't talk about the reasons or politics behind an investor mood to turn to gold as a safe place to store wealth in a rocky financial world.

We asked Bill this question, "Do you think gold is a better investment than stocks?"

"We really don't give financial advice," Mosley said.

Some investors predict gold will hit $2,000 an ounce in the next year or two.

Bill won't predict how high the price may go up.

Meanwhile, some investment advisers say buying up all that glitters in gold coins is not a wise investment in the long run.

It's recommend that if you are selling your gold jewelry to ask more than one dealer how much it should bring.

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