Now's the time to cash in your gold and silver - - Tyler, Longview, Jacksonville |ETX News


Now's the time to cash in your gold and silver

You've seen the ads promising cash for your gold and silver. Some say the move is worth it, and east Texans are listening.

KLTV 7's Layron Livingston was there as they cashed in.

"Gold, silver, diamonds, coins....silverware, flatware...all precious metals."

And precious commodities.

Don McPherson with American Gold and Diamond Exchange says these days, all that gold translates into cold hard cash.

McPherson says over the past couple of weeks, the price for precious metals has been rising.

"And I think that's due mostly to the bad economic news. People are looking at gold as a safe haven."

Whether they're buying or selling.

"You don't have to worry about interest rates going up or down, you don't have to worry about banks closing on you and having your cash. If you've got gold, you're holding your wealth in your hand," said McPherson.

From old chains and rings to refined investments.

"If you're going to sell it, sell it before it goes back down. It's at an all time high," says Jeremy Alford. "I don't know how long this price is going to stay up."

Jeremy Alford and his team of buyers are getting the word out.

"I know that we're in for some tight times," said Robin Solomon.

"I could use the money, too," said Carolyn McCune.

"It'll go into my savings, and as I need it for whatever happens in the future, then I have a little more to draw down on," said Solomon.

Possibly a gold and silver lining in today's cloudy economic times.

We're told the price per ounce of gold went up again this morning once the bailout plan failed, peaking at more than $900.

Layron Livingston, reporting.

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