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RALEIGH – While many stocks are tanking after the downgrading of the U.S. credit rating, gold prices are setting record highs. Monday, gold reached more than $1,700 an ounce and some are already predicting it may top $2,000 dollars.

That's left many wanting to get in on the surge. At Raleigh Fine Jewelry, managers are seeing more customers wanting to sell their goal.

"They are bringing their 80s gold and stuff that's been sitting in their jewelry box for ten, twenty years, scrap gold," said store manager Laurie Linney. "Anything that they aren't wearing anymore they are bringing in."

But, the Better Business Bureau has some tips before you sell. The organization says know the karat and weight of your jewelry, have your piece appraised and research the company you're selling to to make sure it is reputable. The BBB also says it's best to be wary of large expos because they often don't offer as much as local dealers.

Many people now also want to buy gold for their investment portfolios.

"We've seen a situation where geopolitical instability is pretty rampant. There's some questions regarding lots of different currencies and those are the things that really drive the demand for gold,” said Chip Hymiller, the owner of Beacon Financial Strategies.

Hymiller says use caution because gold can be volatile.

"Be careful, limit your exposure and put a focus on the long term," he said.