Kevin Odell is seeing a modern day gold rush at his Falls Church pawn shop.

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The gold buyer says he’s buying as much as $12,000 a day from people cashing in on the climbing commodity. A boost in business he says comes mostly from first time buyers.

People like Bennie McRae, who just snagged more than $500 for his gold goods.

“People just scrambling trying to get a few dollars in their pockets and you know right now, the down is the dollar, the up is the gold,” he said.

Since the U.S. credit rating was downgraded, gold prices have climbed above $1,700 an ounce.