Bargain hunters buying gold amid lower prices - KYTX CBS 19 Tyler Longview News Weather Sports

Bargain hunters buying gold amid lower prices

Posted: Updated:

Tyler, TX (KYTX) -- Gold prices plunged at the beginning of this week, and even though they've bounced back, this has opened the door for some bargain hunters wanting to strike while the iron is hot.

"They always say buy on the dip, so I buy a little bit on the dip, and when it goes back up I sell it," Royce Hayes said.

He's one that's keeping an eye on the gold market.

"It's been on a yo-yo," Hayes said.

Hayes is one of many bargain hunters taking advantage of the roller coaster week for prices.

"A year ago our average selling price was around $1700, $1800 per ounce. Today you can buy an American Gold Eagle for under $1500," Don McPherson, owner of American Gold and Diamond Exchange in Tyler, said. 

On Monday, gold suffered its worst one-day drop in 30 years, plunging to $1,361 an ounce.

"Some of the bigger dealers will take stuff off the market during a big drop, but we give our customers an opportunity to buy when it's lower and when its higher," McPherson said. 

Prices have now bounced back up to above $1400 an ounce to end the week.

  • Local NewsMore>>

  • Van Zandt suspect teen arrested after shooting mom

    Van Zandt suspect teen arrested after shooting mom

    Saturday, September 13 2014 9:01 PM EDT2014-09-14 01:01:08 GMT
    GRAND SALINE (KYTX) -- A 17-year-old Van Zandt man who reportedly shot his mother then fled behind his residence Friday afternoon is in police custody. Several law enforcements agencies, including the Canton K-9 unit from 13 miles away joined in the chase before Michael Henry Dyar was captured shortly after the shooting near US Highway 80 west of Grand Saline.More >>
    GRAND SALINE (KYTX) -- A 17-year-old Van Zandt man who reportedly shot his mother then fled behind his residence Friday afternoon is in police custody. Several law enforcement agencies, including the Canton K-9 unit from 13 miles away joined in the chase before Michael Henry Dyar was captured shortly after the shooting near US Highway 80 west of Grand Saline.More >>
  • Woman shoots at ex-boyfriend in Palestine post office

    Woman shoots at ex-boyfriend in Palestine post office

    Saturday, September 13 2014 9:27 AM EDT2014-09-13 13:27:25 GMT
    PALESTINE (KYTX) -- A woman scorned fired one shot at an ex-boyfriend at the post office, reportedly fled in a vehicle only to turn herself in to police.The victim was about to depart the post office lobby at at 1213 North Link (State Hwy 155 North) when the former girlfriend fired her weapon. The man was not hit, nor were postal customers or employees injured.More >>
    PALESTINE (KYTX) -- A woman scorned fired one shot at an ex-boyfriend at the post office, reportedly fled in a vehicle only to turn herself in to police.The victim was about to depart the post office lobby at at 1213 North Link (State Hwy 155 North) when the former girlfriend fired her weapon. The man was not hit, nor were postal customers or employees injured.
    More >>
  • Report: Adrian Peterson indicted for negligent injury to a child.

    Report: Adrian Peterson indicted for negligent injury to a child.

    Friday, September 12 2014 9:25 PM EDT2014-09-13 01:25:40 GMT
    (CBS SPORTS) -- Minnesota Vikings running back Adrian Peterson has been indicted in Texas for 'reckless or negligent injury to a child,' according to the Fox Affiliate in Houston. The indictment was made in Montgomery County.More >>
    (CBS SPORTS) -- Minnesota Vikings running back Adrian Peterson has been indicted in Texas for 'reckless or negligent injury to a child,' according to the Fox Affiliate in Houston. The indictment was made in Montgomery County.More >>
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.