Kitco News: Gold Goes Up! Cupid Strikes Again!! February 10, 2025 – Posted in: Press – Tags: , , , ,

Dear Valued Clients,

The House of Kahn Estate Jewelers is proud to be featured, once again, in Kitco News! Kitco News is the leading global authority on precious metals and mining news! Neils Christensen is the Editor of Kitco News and has more than a decade reporting on the financial sector. (For a complimentary appointment and assistance with all of your jewelry needs, please contact President of House of Kahn Estate Jewelers, Tobina Kahn, at: TobinaJwels@Aol.com or (312)-402-4000)

“Consumers continue to cash in on jewelry as prices push to $3,000 –
House of Kahn Estate Jewelers”

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Published on Monday, February 10th, 2025

(Photo Courtesy of The House of Kahn Estate Jewelers)

(Kitco News) – Analysts are not the only ones monitoring gold as the price continues to inch toward the $3,000 target; consumers are also taking advantage of the rally.

In an interview with Kitco News, Tobina Kahn, President of the House of Kahn Estate Jewelers, said that she continues to see a steady stream of clients who are starting to take notice of the gold rally as it attracts the attention of mainstream media.

She added that until recently, most clients didn’t know how much their unwanted jewelry was worth, but that sentiment is starting to change.

“Most people still can’t tell you exactly what the price of gold is, but they are starting to realize that something is happening,” she said. “A lot of people are surprised when they come in and find out how much Grandma’s charm bracelet is worth.

About eight out of 10 clients come in and end up selling their jewelry when they find out what it is worth.” Kahn said that she expects gold prices to easily hit $3,000 an ounce in the current environment, so it’s not surprising that some consumers are hesitant to sell their broken and unwanted jewelry now.

However, she also noted that some consumers’ expectations may be a little too lofty. She explained that some consumers are now waiting for $4,000 or even $6,000 gold prices.

“I think gold could eventually get there, but it might still take a few years. I don’t think anyone should try and time the market. That would be a mistake. It would be a mistake to get into debt waiting for higher prices,” she said.

Kahn also noted unique sentiment among the clients who are selling their jewelry. Kahn said in 2024, some consumers were a lot more panicked and selling their jewelry to get extra cash to stretch their paychecks as inflation remained stubbornly elevated. Kahn said that there is no longer the same sense of urgency in the marketplace.

“Consumers are interested in having a little bit more money, but what we hear the most is that they are surprised at what their broken necklaces or that one earring is worth,” she said.

Looking at the broader market, Kahn said it is difficult to see what will stop gold’s latest rally early in the new year. She said that she expects geopolitical uncertainty to continue to support prices through 2025.

“Gold is attractive because it has no political risks,” she said. “With all the geopolitical uncertainty and trade war talk, gold is the only grown-up in the room. Gold will remain the grown-up in the room until we get government debt under control.”