When economic times are bad, this is the best time to sell precious metals and most of all, gold!
The reasoning is simple – gold is viewed as a safe asset which will hold its value unlike stocks and shares, so when stock markets slump and currency values drop, large investors and governments around the world buy gold. So many people buying gold makes the price rise dramatically and at this point it pays to take a look at what exactly has been happening with gold prices.
Less than 6 months ago the price for an ounce of gold was through the $1,000 barrier – the first time that gold had ever done this but then we were in the middle of the worst financial crisis the world has seen since the Great Depression of the 1920’s. Today, gold is through the $1,200 barrier for the first time amidst the most recent shock to the global financial system and the price has reacted directly to the news that India has bought 200 tons of the golden metal to further bolster its reserves. In the last year alone, China has doubled its gold reserves – further fuelling demand for gold and driving the price through that $1,000 mark.
Compare these all time high gold prices with the price in 1999 – ten years ago – gold traded then at a mere $252 an ounce!
In other words, there has never been a better time to sell your gold items than today – at no point in the past has there been a better price available for your gold pieces but there is more. Gold is volatile, and by that we mean that the price of gold can rise very quickly but in the same way it can fall like a stone too. Today, gold may increase in value by a few hundred dollars if the right conditions occur but equally, the price being offered can fall by a $1,000 if the economy picks up and starts to perform.
Now is the time to sell your old jewelry so you can enjoy the very best prices for your gold, and as there are so many dealers and refiners looking to buy your pieces, you can be assured that there is a lot of competition to give you the very best service too. Selling old jewelry is as simple as picking up the telephone or forwarding an email enquiry to a dealer or even better, a refinery. A refinery will be the source of the best pricing available because they are the ones who will actually melt the gold down and prepare it for use in making new jewelry or for transfer to a wholesale gold operation which converts the metal to bullion for use by banks and governments around the world.
While many of us have old items lying around in drawers and gathering dust, at the same time we are struggling with bills and debts which can simply and easily be relieved by taking a few moments to check exactly what they will sell for. You can find out easily with many dealers publishing the price for your pieces and there are also free, secure and insured couriers arranged by many gold buyers who will be only too happy to assess and offer a very good price for you.
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