Gold-buying businesses thriving in the Bronx

On Southern Boulevard in Hunts Point, almost every other storefront window bears a sign declaring, "We Buy Gold."As the effects of the recession continue, residents

THE BRONX - On Southern Boulevard in Hunts Point, almost every other storefront window bears a sign declaring, "We Buy Gold."

As the effects of the recession continue, residents of the South Bronx are looking to part with gold jewelry - often precious keepsakes that they've treasured for years. With the price of gold rising to $1,395 an ounce, the temptation to sell is strong and local business owners see a new opportunity.

In an uncertain economy, gold jewelry is increasingly viewed as an unnecessary commodity in lower income neighborhoods such as Hunts Point and Longwood. Residents say they feel it?s a good time to sell before the holidays and merchants are willing to pay.

advertisement | advertise on News 12

Trending Video

1 Bronx Sportscast, Jan. 17
Two arms without hands believed to have been 2 More body parts found at Bronx garbage facility
Four teens are accused of attacking a postal 3 Police: Postal worker attacked by teens in the Bronx
The Bronx Chamber of Commerce is putting out 4 News 12 gets inside look at 1st BX business directory
Experts offer advice on reducing healthcare costs at 5 Tips to reduce health care costs

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE