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,
â€œThis is a cultural phenomenon â€” the last time gold was worth this much was in the 80s.