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

Wells Fargo is rolling out cardless ATMs where 1 Word on the Street: Cardless ATMs
VIDEO: NYPD officers in same precinct discover they 2 VIDEO: NYPD officers in same precinct discover they are sisters
People stood in solidarity and lit candles in 3 Candlelight vigil held for Tinton Ave. shooting victim
A 46-year-old man was shot in the chest 4 Police: Man shot dead after dispute in the Bronx; suspect in custody
5 VIDEO: Extended footage from NYPD Emergency Services Unit graduation

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