Consumers Cash-in with High Gold Prices

November 15, 2011 Updated Nov 15, 2011 at 9:06 AM EDT

By WKBW News

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November 15, 2011 Updated Nov 15, 2011 at 9:06 AM EDT


Rising gold prices have many consumers cashing in gold jewelry. Gold is going for more than $1,700 per ounce. Jack Hunt Coin Broker has been in the gold business for more than 40 years. "The Kiosk" at Airport Plaza Jewelers uses a unique marketing program. Both companies plan to advertise as the holiday shopping season arrives since many consumers will trade in gold for cash to buy holiday gifts. By January, consumers might sell gold to pay off holiday credit card bills. You can read more about the trend in this week's Business First.

A special report in this week's Business First shows how the WNY banking landscape is changing and some credit unions are expanding. New bank fees and retail branch sales, along with the economy, are all driving consumers to seek new, cost effective banking options. The report says that often leads to credit unions.

Here's the list of largest WNY credit unions, based on assets:
1. Cornerstone Community
2. Olean Area
3. Moog Employees
4. Western Division
5. Greater Woodlawn

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