Gold hits record $1,000 an ounce

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Helen Antalg, a jewelry appraiser from Australia, said she was on watch for a good deal during a vacation in New York. "I'm looking to see if there's anything that catches my eye and at a good price," she said.

"I'm tending to go to the pawnbrokers as opposed to the retail side of things" in order to get better deals, she said, but added that she hasn't changed her jewelry-buying habits due to rising prices.

With prices rising, selling those not-so-beloved Valentine's Day presents or family heirlooms might sound like a good way to make a few extra bucks. Dave Adelman, who owns two pawn shops in Atlanta, said he's seen an increase in the number of people coming in to sell their gold. But he said he can't be sure whether that can be pegged to gold prices rising or other economic factors.

"When they come in, we don't know whether they're doing it based on the gold price or because of need," he said.

Whether consumers are buying gold or selling it, Murphy, a jeweler for 30 years, said he's amazed the price has jumped so high. He remembers when gold was just $35 an ounce.

"I didn't think we would ever be talking about $1,000 an ounce," he said. "It's crazy."

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