Price of gold dropping 22% this year

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MASON CITY, Iowa – The price of gold has been on an 11-year rise that is until just this past year.

A north Iowa jeweler tells us gold prices in this area are holding pretty steady at about $1,300-1,400 per ounce.

Nationwide, the price of the precious metal has dropped 22% just this year.

And he tells us customers can be impacted by these trends.

“Generally by the large fluctuations. Since we’re buying gold everyday it generally tends to average out a little bit. We take and do adjust our prices based on how we sell it and how we purchase it from customers based on the gold price,” says Jeff Stadheim, owner of Statheim Jewelers.

Although the price of gold is no longer climbing, Stadheim says people still bring in gold to sell on a daily basis.

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