EAU CLAIRE (WEAU) - More and more people are worried about the economy, and one big indicator of that fear is the price of gold.

The experts say it's always a bad sign when people dump their dollars, but that's what's happening in the biggest move to gold ever.

Gold has never been more valuable. It closed this week at more than $1,503.26 an ounce, the all time high. Now people are selling their jewelry.

“It was a little bitty bag that fit in my hand of stuff that gave me a thousand dollars,” said Stephen McLean, who sold his gold in Oklahoma City.

Wendy Groshong got $400 from hers. “I mean it could buy the extra gas, the extra groceries and things like that,” she said.

One thing driving up gas prices is speculation, and that's the main thing driving up gold: fear that the U.S. dollar will dive.

"The dollar is much weaker, but it stands a good chance of getting much weaker from where we are," said Richard Hastings of Global Hunter Securities.

Blame our huge deficit and worry that democrats and republicans won't make a deal to lower it.

Thursday night, President Obama fired up contributors about the recovery since he was sworn in

"The economy is growing again,” he said. “Two and a half years later, we're creating jobs again.

Most Americans are not cheering. 39%, in a New York Times/CBS poll, say the economy's getting worse. That’s a 13-point jump in just one month

Currency speculators are selling dollars, and buying gold, a sign of fear.

"I think it makes sense for people in this time of economic crisis to look to gold as a shelter from the storm," said Professor Michael Greenberger of the University of Maryland.

Buying bullion is easier than ever. AGM’s, or automatic gold machines, are selling people gold for cash in places like Florida and Las Vegas.

Gold can go down fast, though. So far this year, stocks are beating gold as an investment.