DANVILLE — Topping $1,100 an ounce this week, gold is becoming as much a profit center as fashion statement.

Local buyers and sellers of gold say customer interest has been bullish in the wake of rising prices, but like any market commodity, uncertainty remains king.

“I still buy my fair share of it (scrap gold),” said Kent Dukes, owner of Downtown Diamond and Pawn, 47 N. Vermilion St., “but I’m a horrible, horrible gambler. I still think it’s going to go a little higher.”

Tom White, owner of Gold Rush Pawn Brokers, 20 N. Hazel St., said the time to sell scrap gold like broken bracelets and watches is now.

“If I had a crystal ball …,” he said when asked how high prices — which have quadrupled in less than 10 years —would go. “I’d say it’s not a good time to buy a gold chain, but it might be a good time to sell a gold chain.”

Both pawn shop owners said interest continues to rise as the economy keeps foundering and people search for sellable items in their homes.

“It’s spurred more people to see what they’ve got,” said White, whose business has operated for 28 years. He said one person brought in false teeth containing a gold filling — which the shop promptly purchased.

Dukes said selling scrap gold locally is the best option because large-scale buyers who advertise on television can’t give a real-time price, which could mean lower customer payout due to the consistently rising price of gold. He said he recently tested one of the popular national buyers and found his shop was paying three times the rate he received on a necklace he had sent in.

“We pay cash and you don’t have to wait,” said Dukes, whose business has been in operation for 11 years. “I find out what it’s melting for at the refinery and price it according to that.”

Jewelry store owners are having a difficult time finding the true value of their items, which are not only affected by gold prices but priced according to quality and workmanship.

“We’ve had a couple of customers decide to wait until gold prices go down before making a purchase,” said Bruce Rothery, owner of Rothery Jewelry, 147 N. Vermilion St.

He said the store’s Christmas stock had already been purchased and would not be affected by swings in the gold market, though incoming items were being affected. The store does not purchase scrap gold.

“We still almost have to call every day (to check recent gold prices),” he said. “It’s hard to price things when (the markets) go up and down.”

Marilyn Unger, owner of Unger Jewelry, 314 E. Main St., Hoopeston, said the already struggling economy has affected the purchase of luxury items — and her concern is over the quality of new jewelry as makers try to cut costs and keep items affordable.

“They do lots of things to keep the price down,” she said, which includes lowering caret values and even overall strength of a piece. “It wasn’t that long ago you get a nice ring with a sturdy shank for $200 or so.”

She said she’s tried hard not to keep changing prices based on the gold market, but it’s been difficult. She said prices started rising sometime after the 9/11 terrorist attacks.

“I have to keep track of it,” she said, “but I’m not changing the prices daily. That would just be too much work.”

Unger, in business for nine years, also buys scrap gold, which she said has seen a renewed interest among customers. She said scrap-sellers are sometimes surprised a piece doesn’t bring in as much money as they expected.

“What they see is the price of pure gold,” she said, “and what they’re bringing in isn’t pure gold.”

She said the payout price depends on weight, how much the gold has been refined and whether it has other alloys inside.

“Some people have been deciding it’s time they get rid of jewelry that’s broken or not being used,” she said. “Sometimes they’re kind of disappointed.”

The gold rush hasn’t been limited to traditional dealers, either.

About two months ago the BP Amoco gas station at North and Gilbert streets erected a sign inviting customers to sell their scrap gold there.

“It’s a new thing for us, but it’s been working out good,” said Lee Aldeen, store manager. “It’s a good business and it’s helping people, too.”

The station pays for the gold by check if an amount is over $100 and considers weight and quality in its analysis.

Aldeen said customers have not found it odd to sell gold at a gas station.

“Some of them have just come in for the gold because they see the sign,” he said. “But some of them ask about it after they pump gas.”