During the first week of February, at the peak of gem show season in Tucson, Ariz., Freddy Keshmiri of Keshmiri Art & Antiques Corp., a vintage watch dealer in Beverly Hills, Calif., showed off a case full of Swiss watches at the GJX trade show, located in a large tent across from the city’s convention enter. Heavy on precious metal Piaget models from the late 1960s and ’70s, including fetching styles bearing turquoise and lapis dials, Keshmiri’s inventory was conspicuous for two reasons: In a sea of loose gemstones, from aquamarine to zircon, his display of timepieces stood out. And two: all that gold. The price of the precious metal peaked at $5,414 per ounce on Jan. 28, five days before GJX’s opening, and was trading for $5,012 on the day of Robb Report’s visit. The metal’s dramatic surge in price—a year ago, gold hovered around $2,800—not to mention its recent volatility was all anyone could talk..
