SAN FRANCISCO (AP) — For gold sellers on eBay, the recent stock market turmoil has been a boon for business.
Gold and silver sales on eBay had already been rising steadily over the past several years — so much so that eBay Inc. created a special area in May to make it easier for buyers to find sellers.
Now, activity is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment.
The stock market just ended one of its most volatile weeks in years. Through most of last week, the average selling price increased for gold bars and coins.
The increased popularity of gold on eBay echoes what’s happening in the broader gold market, where prices have spiked during the past two years.