Trusted Gold Buyers

Should You Sell Your Old Gold Now?

Should You Sell Your Old Gold Now?

Gold prices have broken yet another record with gold prices crashing through the $1,300 an ounce barrier.  Gold has been rising for the last couple of years because of the severe economic recession and though we may not officially be in recession now, the effects are still very much with us.

Gold rises during economic hard times because money loses its relative value and the stock markets tend to take a nose dive and suffer from increased volatility.  Big investors and national governments don’t like volatility and when they see deteriorating markets, they tend to move their capital out of the stock markets and into safe investments.  Of all the alternative “safe” investments, gold is the one prized above all others, and this is why gold prices rise when the economy and stock markets take a tumble.
What does this mean to you with some old gold items and jewelry?

First of all, it means you will be getting the top price for your gold than waiting until the economy turns around.  As soon as the economy starts to recover the value of gold will fall dramatically as investors return to the stock markets; investors sell their gold holdings to fund their purchase of shares, this means the supply of gold starts to exceed demand and this causes the price to drop, and typically, the fall in value is very dramatic.

At $1,300 per ounce, the value of gold is at an all time high, so now is the best time ever for you to dispose of your old gold items because you will get the most money ever for them.

We have mentioned the poor state of the economy, and it is typical for many to be struggling with everyday bills and paying off debts.  It doesn’t necessary need to have a bad economy to make selling your old gold a very sensible proposition; if you are carrying credit card debts and other loan repayments, typically charging excessive interest charges and fees, it makes perfect financial sense to sell old gold which has no sensible or practical value and repay your debts to improve your financial position.

From a purely financial perspective, the answer to the question is a resounding, “Yes!”
Today, it has never been easier to arrange for the best price for your old gold items because of the number of metal dealers and jewelers who are actively trading in old gold items.  The internet and traditional media are full of advertisements exhorting you to contact them to arrange a price and sell your gold, and with reputable dealers the process is smooth and easy.

Typically, you contact the dealer or trader (metal merchants are best because they refine the gold) and they will arrange to collect your items.  This is done by a registered courier and is fully insured in case of loss.  Once they are received by the dealer the gold is appraised (but note the price you are offered will be for the metal component and not the stones such as diamonds or sapphires).  Once the gold is appraised a formal offer will be sent to you, usually by telephone or email and you decide if you want to accept the price offered or have your pieces returned to you.  Accepting the offer will usually result in a check or payment to your bank within the week and the entire process should take only a few days, two weeks at the most.

Tags: Old Gold, Sell Gold, Sell Jewelry