Surging gold prices prompt more Oklahoma residents to sell valuables

As gold hits historic highs, local residents are turning in their valuables for fast cash. At Tulsa Gold and Silver, sales clerks say they’ve seen a sharp increase in customers over the past several months. The trend reflects not only local behavior but also a national response to ongoing economic uncertainty.

Here’s what’s driving the surge in gold sales—and what it means for Oklahomans.

$3,340: The Current Price of Gold per Ounce

According to Tulsa Gold and Silver, gold has climbed to more than $3,300 an ounce. Just one year ago, the price was closer to $2,300. The dramatic $1,000 increase highlights the metal’s volatility and its role as a hedge against economic instability.

20%: Increase in Walk-in Customers at Tulsa Gold and Silver

Over the last six months, Tulsa Gold and Silver has seen a 20 percent uptick in people coming in to sell gold. Sales clerk Mike Anderson attributes this rise to everyday people seeking quick cash as prices spike.

5 Years: Time It Took for Gold Prices to Nearly Double

In 2018, gold was trading at roughly $1,700 an ounce. Now, just five years later, it has almost doubled. Anderson said part of this growth is fueled by uncertainty, including international conflict and fears about inflation.

Why These Numbers Matter

Gold has traditionally served as a “safe haven” investment during periods of economic turbulence. Anderson points to several contributing factors—ranging from wars in Israel and Ukraine to monetary policy—as reasons for the price climb.

“Gold has again climbed a thousand in one year... and as it continues to rise, that means more and more economic problems,” Anderson said. “Gold goes up when there’s a lot of questions in the world.”

He also emphasized how federal spending has affected markets:

“The more money the government prints, the higher any commodity is going to go,” he said. “With COVID and all the dumping money into the treasury and into the market—that’s really what’s caused the market to go up.”

What Comes Next?

While current prices are favorable for sellers, Anderson cautions they may not hold forever.

“There’s a concern that gold can’t stay this high,” he said.

Still, for those holding onto old jewelry or coins, it may be a smart time to consider selling. Even if prices dip slightly in the future, sellers are still likely to walk away with a strong return.