AP PHOTOS: Economic jitters and soaring gold prices create a frenzy for US jewelry merchants
A pedestrian walks past the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
LOS ANGELES (AP) — As gold prices soar to record highs resulting from global economic jitters, hundreds of thousands of U.S. dollars’ worth of gold are circulating through the doors of the St. Vincent Jewelry Center in downtown Los Angeles on any given day.
Many of the 500 independent merchants in the largest jewelry center in the United States say they have never seen such a surge in customers. People are flocking in to sell or melt down their old jewelry, while others are investing in gold blocks to keep as stable assets.
Gold’s current rally comes as President Donald Trump issues ever-changing announcements of tariffs, roiling financial markets into volatility and threatening to reignite inflation.
A collection of gold coins is displayed at a shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
A collection of gold coins is displayed at a shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Puzant Berberian, whose family founded V&P Jewelry, sits for a photo at his shop in the St. Vincent Jewelry Center in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Puzant Berberian, whose family founded V&P Jewelry, sits for a photo at his shop in the St. Vincent Jewelry Center in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Sam Nguyen shows a gold bar at her shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Sam Nguyen shows a gold bar at her shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Melter Alberto Hernandez loads gold into a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Melter Alberto Hernandez loads gold into a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Molten gold is poured into a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Molten gold is poured into a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Sarahi Cervantes places a gold bar on an X-ray machine for assaying at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Sarahi Cervantes places a gold bar on an X-ray machine for assaying at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
A bowl filled with gold jewelry and a gold bar is weighed at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
A bowl filled with gold jewelry and a gold bar is weighed at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Gold jewelry melts inside a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Gold jewelry melts inside a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Containers holding gold granules are seen at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Containers holding gold granules are seen at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Gold jewelry are displayed for sale at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Gold jewelry are displayed for sale at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Imported gold chains are displayed at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Imported gold chains are displayed at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)
Molten gold settles in a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
Molten gold settles in a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)
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This is a photo gallery curated by AP photo editors.