NACOGDOCHES, TX (KTRE) - The power of gold never goes away, but when stocks aren't appealing, gold usually is the alternate investment. Jeweler Mark Stephens said, " Since the millennium, the year 2000, the gold prices have tripled. I think right now gold is right around $900 an ounce. " Stephens receives a smart return from the scrap gold he sells each month or so. The profit generally goes right back into the business. Wedding bands are more expensive, even at the wholesale level. " The high gold price effects our inventory and our costs greatly. The finished jewel that has other stones in it, it's noticeable, but not as noticeable as in plain wedding bands and items like that. "
Down the street at JJ's Pawn Shop guns remain the top seller, but gold catches the eye. Cheryl Ball has a few flashy pieces, but she hasn't observed a sharp increase in the sale or purchase of gold at her store. " When times start getting tougher they do go to the scrap gold or their coins or whatever it is that they may have set back, but I don't think the times have been quiet as tough as everybody thinks that they are, " said Ball. Ball collects coins, but for now she's holding on to her gold pieces as long as she's able. " Sure it's always tempting, but you never know what the gold prices are going to do. If they are going to go up or down. But the longer you can hold on to it, actually the better. "