FRANKLIN CO., Va.—
A fool and his gold are soon parted.
It may be a lot easier with gold prices reaching record highs this week.
Monday, gold climbed to just over 16-hundred dollars an ounce.
But, since then, prices have dropped with talks of a debt limit plan.
Ginger Mumpower has been in the jewelry business for nearly 30-years.
Mumpower says while you can't predict what it will do, gold doesn't typically have extreme drops like the stock market does.
"It's been steadily increasing and you'll have 25-dollar drop, but its not like 100s of dollars that it will drop overnight," explains Mumpower.
Right now, gold is more expensive than platinum.
She suggests shopping around for a reputable store before you sell your scrap gold or silver.
