Economic luggage and increasing gold prices create a frenzy for US jewelry traders

Los Angeles (AP) – At the largest jewelry center in the United States, Alberto Hernandez shot his machine on a recent day and waited until orange shining inside before making a variety of rings, earrings and necklaces weighing about a soap bar: just under 100 grams, 3.2 Try.

Minutes later, the boiled liquid metal was cooled in a rectangular size of the woman’s shoe. An X -ray machine determined that it was 56.5% gold, which was worth $ 177,000 depending on the price of gold that day.

As the prices of gold Soar to record highs During global economic jitters, hundreds of thousands of gold go through the doors of St. Vincent Jewelry Center of the Center of Los Angeles on a certain day.

Many of the 500 independent tenants of the center, which include jewelers, gold refinators and trials, say they have never seen this increase in customers.

“Right now, we are seeing many rappers and things that melt his great pieces,” said Alberto’s nephew, Sabashden Hernandez, who works at A&M beautiful metals. “We are receiving many new customers who have just done all the things of their grandfather, melting -virtually.”

Gold Current rally comes as president Donald Trump Questions that always change ads about rateswrinkle financial markets and threaten – inflation reigns.

In response, people from all over the country are camping to sell or melt their old jewelry for quick cash money, including intermediaries like Pawn store owners. Others, thinking that their money can be safer in gold than on the volatile stock, they are doing so fast.

Los Angeles jeweler, Olivia Kazanjian, said that people even have family heirs.

“Things are melting with the dates of his family’s wedding and the things of the 1800’s,” said Kazanjian.

He recently paid a customer for a 14 -kilometer golden fabric bracelet with a complex blue enamel work that could turn into a brooch. The client moved away with $ 3,200 for the amount of gold found in the piece measured in ounces of Troy, the rule for precious metals equivalent to 31 grams.

But Kazanjian does not plan to melt the piece. He said that the real artistic and historical value was much more.

“It’s just impressive … and you will not see this kind of craft again,” said Kazanjian, who added that he has persuaded some clients to change his opinion on fusion articles. “It’s a story and, if you are lucky enough to inherit -it is a piece of your family.”

The sales companies of the action, which offer gold bars and other materials, are also working hard to keep up with the frenzy.