Price of gold continues to rise ahead of holiday season

SALISBURY, Md. – Gold is more valuable than it has ever been, ringing in at more than $2,600 per ounce.

But if you’re in the market for jewelry as we approach gift-giving season, when is the right time to buy that special gift?

“We do 50% of our business between November and December every year, so the holidays mean a great deal–to any jewelry store,” said Susan Purnell, owner of Kuhn’s Jewelers in Salisbury.

It’s no surprise that demand for jewelry goes up around gift-giving holidays. Purnell doesn’t see gold pieces getting cheaper any time soon. She says it can’t hurt to try to get out ahead of the curve.

“I think it’ll go higher. You know, just because it always has, you’ve never seen it take a real big dip in a very long time…I think you get more of a selection if you shop early, so why not do that?”

Tuesday was the first of Kuhn’s 3-day Buying Event, where customers can bring jewelry and other items to be appraised and bought by National Rarities, estate buyers based out of St. Louis.

“I think we’ll be pretty busy over the next three days because the price is really as high as it’s ever been.”

Customer Marian Kellam was curious about the value of some coins she’s had for years, but was she selling or holding?

“I was satisfied with [the value], but I’m going to let my son determine that,” she said.

Whether it’s jewelry for a loved one or you’re trying to diversify, Purnell said gold remains remains a sturdy investment: “It’s a pretty good hedge, something good to have in your portfolio. Whether it’s in jewelry, or bullion, or coins, I don’t think there’s anything that you can do wrong by collecting gold.”

Purnell noted that the value of gold and other precious metals does typically increase as we get closer to elections.

If you have valuables that you want appraised, Kuhn’s buying event will continue through Thursday.