Customers are stocking up on gold in Grand ForksGrand 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.
By: Kayla Strayer, WDAZ, WDAY
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.