Fears of a recession have driven the price of gold to levels not seen in more than five years. but that’s bringing out the scam artists.
They prey on people looking to sell their gold to cash in on the high prices and on people looking to buy gold for its traditional role as a storehouse of value in uncertain times.
“Gold is a hedge against calamity, and this is a very dangerous world,” gold expert Scott Travers told CNBC’s “American Greed.”
Travers, a New York-based gold coin dealer, is the author of multiple books about investing in the precious metal. Read more about what Scott Travers has to say about gold scam artists on the CNBC website HERE
