Overview

• Gold prices have surged to an unprecedented $3,357 per ounce, rising 27% since the start of the year due to geopolitical tensions, tariffs, and central bank demand.
• Consumers are liquidating vintage jewelry and family heirlooms for cash, with jewelers reporting a significant increase in customers seeking to melt gold items.
• Independent jewelers are benefiting from the influx of scrap gold but remain concerned about rising costs for imported precious metals due to tariffs.
• A $10 million heist in Los Angeles' Jewelry District has heightened security measures, with the FBI and LAPD investigating the burglary at Love Jewels.
• Experts caution that while melting jewelry may provide quick cash, returns are often modest, and antique pieces may hold greater value if preserved.