Overview
- Gold set new highs in October, crossing $4,000 an ounce (over €110 per gram), with reports of a roughly 50% rise this year and an October 20 peak near $4,356.
- Gold-buying shops report markedly heavier foot traffic, with managers saying they have many more clients than usual.
- Some sellers are cashing in family pieces to cover urgent bills, including a retiree who received €2,500 to pay rent and charges.
- Dealers are removing real bullion from displays, using replicas and digital screens, and shipping purchases to refineries within hours to reduce theft risk.
- Raw metal is a prime target because melting erases traces, with a €600,000 gold nugget theft in Paris and a failed Lyon refinery robbery allegedly aiming for €12 million reported recently.