Customers are stocking up on gold in Grand Forks

Grand Forks, ND (WDAY TV) -- People are flocking to a gold store in Grand Forks, spending thousands of dollars on the precious metals. Experts say it's a good investment as the value of the dollar drops.

Peter St George/Customer: "We want to get some silver."

The owner of the Gold Silver Exchange says his business is busier than ever.

Jerry Breyer/Owner: "We're seeing a lot of customers buying substantial amounts of precious metal."

Breyer says the average customer is spending thousands on gold and silver.

Jerry: "Some people will buy a hundred thousand, some might buy 10, some might buy 5, but it's a lot of money being invested into precious metal."

Trying to keep up with the demand can be a struggle.

Jennalee Bragg/Employee: It's nice being busy all the time, but we are running short of product because we get so many people coming in and out.

Buyers see this as a way to prepare for the future in uncertain times.

Peter St. George/customer: "There's a lot of inflation happening with the dollar and there's so much debt we don't know what's going to happen so this is a great investment for us."

Jennalee: "We encourage customers, order silver order gold, because it's the only thing that's going to protect you against inflation."

And the owner is taking his own advice.

Jerry: Recently I had my wife cash in her inheritance and put it into silver because I feel that strongly about it.

Peter St. George: "(How much do you plan on buying today?) As much as I can afford."

Breyer says currently, silver is about 30 dollars per ounce, and gold is more than 16 hundred dollars per ounce.

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