Buyer and Seller of Gold Discusses Sudden Value Rebound

By: Amelia Nahmias Email
By: Amelia Nahmias Email

HARRISONBURG -- Gold prices hit a six month low on Feb. 22, plunging through the average of $1600 per ounce mark, but since Tuesday, the value rebounded.

The price of gold saw it's largest increase in three months early Wednesday morning. It's now back above $1600 per ounce.

Tim Messerley is a local buyer and seller of gold at his store, The Coin and Gift Shop. He has been assessing the value of gold and silver coins or jewelry for the past 20 years. He said the price of gold is manipulated by the large gold and silver buyers.

"To the small guy like us, we just have to ride the market and do whatever comes, deal with it up or down, but, people do watch and buy as prices drop we have a lot more buyers, and as prices go up we have people that sell," said Messerley.

Messerley said his store was busy with people buying on Friday and it had steady business all day Wednesday with people selling.

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