Prices are at an all-time high, so if you're thinking about selling your old gold jewelry, gold coins or any type of gold, now is a good time to get the most out of your gold. The higher the price of gold, the more money you have in your pocket. If you plan to buy low and sell high, the lowest annual price of gold usually occurs around the second week of January. From there, the price tends to rise steadily until the end of the year, with prices falling in summer between April and June.
Of course, there are broad macroeconomic trends with many complex variables that affect price fluctuations and on which investors should also focus. However, understanding historical trends is useful for planning a purchase. The latest sign that the time has come to part with your gold may be the simplest: the best time to sell your gold is when you need cash or you no longer need or want gold. You can buy your gold at several pawn shops, jewelry stores or money stores in exchange for gold in your city.
Amanda Gizzi, spokesperson for the jewelry trade organization Jewelers of America (opens in new tab), says that getting more than one offer and selling to an accredited buyer are important steps to safely selling gold and jewelry at a fair price. Proactively transferring your resources from stocks to precious metals as soon as possible is the only way to ensure that you invest in gold before it's too late. The bottom line is that you should sell your gold when you have a plan for the cash you'll receive or when you simply need the cash value of your gold. Ebay, for example, has a platform where sellers can send a photograph of their item and receive a quote (opens in a new tab), without needing to submit their item.
While gold is not a bubble, it experiences unusual supply and demand behavior in response to the market. It's smart to weigh gold before taking it to the buyer; a kitchen or postcard scale should give you a reasonable idea of the weight of your items. While holding gold for the long term is the best way to protect against inflation and ensure a future in turbulent times, selling gold can be advantageous in the right situation. In this post, we'll look at FIVE signs that will help you ensure that you get the most payment for your gold.
Investors who take advantage of the interaction between gold and silver can make enormous profits. That tangle of chains on the back of the jewelry box or the heavy gold earrings you never wear can be worth something, especially when compared together. You can see how gold continued to rise throughout the 1970s until real interest rates finally returned to positive. Since real interest rates remain near or below zero, this can be a very good indicator that gold may be at its best value and in a good time to sell.
In the words of Lysander Spooner, a 19th-century American philosopher, “There is no price inflation in relation to gold.