The surf shop at the center of the latest round of trading in gold and silver has closed its doors, a move that could spark a bidding war between buyers and sellers.
The Surf Shop in Kapolei, Hawaii, will open a new location in August 2018 and will continue to offer its services.
The surf-themed shop had been owned by the same family for decades and has been an important source of sales in Hawaii.
Gold and Silver Surfing, Inc., the operator of the Surf Shop, said it will no longer be offering its services to consumers in the United States and will operate under the Hawaiian name Surf Shop Hawaii.
Gold and silver prices rose significantly in late July and early August after the Federal Reserve’s policy on quantitative easing, or QE3, and its impact on the economy and financial markets.
The Federal Reserve also increased the value of the dollar.
Gold rose by more than 1,300 percent in early July.
Gold was last trading at $1,749.95 an ounce at 8:05 a.m.
ET on Tuesday.
The U.S. dollar was trading at 102.30 U.s. cents on the euro, down from 102.31 U.$.
cents on Tuesday afternoon.