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Soaring gold prices are driving a surge in business at St. Vincent Jewelry Center in Los Angeles. People are selling family heirlooms and melting down old jewelry for quick cash amid economic uncertainty and rising inflation. Gold refiners are overwhelmed, while some jewelers face higher costs due to tariffs. Experts predict gold prices could continue to rise, reaching $4,000-$5,000 per troy ounce by year's end, fueled by economic anxiety.

Prepared by Christopher Adams and reviewed by editorial team.