The 2008 Gold Rush: eBay Reports Sharp Increase in Sales of Gold Jewelry

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With the price of gold reaching an all time peak of just over $1000 an ounce, eBay has confirmed a rise in jewelry listings of more than 243%. In just two weeks, the average price of gold jewelry on eBay has risen by 32%.

The reason for the sharp increase is a result of a number of Americans rushing to sell their gold jewelry to supplement their income. Of the spike in gold jewelry sales on the site, eBay’s Pop Culture Expert, Karen Bard said,

“This is a cultural phenomenon — the last time gold was worth this much was in the 80s.

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