Gold prices reach record highs; should you sell your jewelry?

WASHINGTON TWP., Montgomery County — As gold prices topped $1,300 an ounce, a historic high against the U.S. dollar, owners of the precious metal are feeling the classic financial emotions of greed and fear. They’re caught between fear of missing a once-in-a-decade-or-longer moment to sell, and apprehension they might sell before gold moves to new highs.

Five years ago gold was less than $500 an ounce. But now an uneven economic recovery, political uncertainty in an election year and worries about the dollar have pushed the golden commodity sky high. Counter workers at the International Diamond Jewelers store, 5949 Far Hills Ave., often have their hands full with sellers carrying gold jewelry — rings, bracelets, necklaces — hastily wrapped in plastic baggies or carried in purses.