The Rise of Gold Prices and the Importance of Informed Investment
As of July 2025, gold prices have reached historic highs, nearly doubling over the past three to five years. This surge has led many individuals to buy and sell gold in an effort to take advantage of the current market conditions. While the opportunity for profit is enticing, it’s crucial for newcomers to the market to approach gold investments with caution.
In West and Central Texas, Mike’s Gold Buyers has established itself as a trusted dealer with locations in San Angelo, Lubbock, Abilene, Killeen, and Temple. Riana Owen, the regional manager at the San Angelo location, emphasizes the importance of being well-informed when dealing with precious metals.
“I think gold is a wise investment if you get it at the right price,” Owen said. “Rare coins are beautiful, but they can be difficult to liquidate. However, with the way gold has been growing, it might be a great investment. The last two years for gold have been the most insane I’ve ever seen. I started in 2015 when gold was $1,200 an ounce. Now, it is $3,300.”
Owen attributes the recent rise in gold prices to various factors, though she notes that the stock market’s fluctuations are one of the few correlations she can identify. “The only loose correlation is the stock market fluctuating up and down,” she said. “That’s really the only thing I can link it to. I don’t see a dramatic fluctuation happening with gold, but it is unprecedented. I don’t know if it’s a big conspiracy, but it doesn’t look to be going down any time soon.”
While there are numerous ways to make quick money, Owen sees gold as a more stable option for long-term wealth accumulation. “I think it’s extremely stable, but it is long-term,” she said. “I also think that’s where people get mistaken with the popularity of coin collecting. It’s a great hobby, but when you’re buying any type of precious metal, it will be a long-term investment of 10-20 years. I think any financial advisor would tell you the same thing. It’s good to have stocks, but it’s a roller coaster. Your precious metals will always be there.”
A key piece of advice for those investing in precious metals is to plan for both buying and selling. “The best advice I can give is find someone local, get as many quotes and ask as many questions as you can,” Owen said. “We do free estimates and sorting, so you can decide with as much information as possible. Stick local because you’re going to be treated better, and we’re your neighbors.”
Local buyers and sellers often develop a sense of trust, which is essential in the precious metals market. “The owners of the other local shops are wonderful, honest, and good people because they live here and buy and sell from the people down the street from us,” Owen said.
Despite the convenience of online platforms, Owen warns against the risks associated with purchasing or selling through the internet. “I used to recommend eBay, but eBay now takes a 30 percent cut, so you get more locally if you were to sell,” she said. “It’s also going to be tricky when you’re buying because you don’t know how much they are having to mark up the metals to make a profit. We have also seen more counterfeits now than we ever have, and they get better and better every time I see one. People are buying them, and it’s not necessarily a new thing, but it’s still a massive problem. We have the ability to test it here, so at least you can feel comfortable knowing that.”
Owen concludes her advice with a strong emphasis on research and building relationships. “Do your research and get as much free advice as you can,” she said. “There’s me, there are other local buyers who are happy to help. You will never meet a friendlier bunch of people than us. The internet is a great resource, but building relationships and business locally is your best bet.”
For those interested in learning more about gold and precious metals, Mike’s Gold Buyers offers resources and support to ensure informed decision-making. Their services are available through their website and Facebook page.
