Gold prices are skyrocketing across the country, what local jewelers are saying

SALISBURY, Md. – Gold prices are skyrocketing, and local jewelers are considering different strategies. The price of gold has soared to the highest they’ve ever been.

According to the Associated Press, the price has increased to over $3,000 per troy ounce. Which is about 31 grams, that’s over $825 higher than last year.

Co-owner of the local jewelry store, ‘Robinson’s Family Businesses,’ John Robinson said there are several reasons for the price spike.

Foreign countries like Russia and China are using gold and silver as their standard currency. They call it bricks, so they’re buying a lot of gold and silver to boost up their dollar bill.”

If the trend continues, analysts say the price could continue to climb in the months ahead.