If you have old gold jewellery lying around, now might be the perfect time to sell it. With gold prices hitting an all-time high of $AUD $ 3666.93 per ounce, you could make a significant amount of money by cashing in. Here’s a simple guide to help you get the best deal.
Why Are Gold Prices So High?
Gold prices are skyrocketing due to several factors:
Inflation: Prices for goods and services are rising, making gold more attractive as a stable investment.
Global Tensions: Conflicts around the world make investors nervous, so they buy gold as a safe bet.
Low Interest Rates: Banks are offering low returns on savings, so people turn to gold for better value.
Steps to Sell Your Gold jewellery.
Know What You Have: Gold jewellery is valued based on its purity (measured in karats) and weight. Pure gold is 24 karats, but most jewellery ranges from 10k to 18k. The higher the karat, the more valuable the gold.
Get It Appraised: Visit a few local jewelers to get your gold jewellery appraised. This will give you an idea of how much it’s worth. Be sure to visit reputable stores for accurate appraisals.
Check the Current Gold Price: Gold prices change daily. Check the latest price online or in financial news to know what your gold is worth right now.
Compare Buyers: Different places will offer different prices for your gold:
Local Jewelers: Usually offer fair prices and can appraise your gold on the spot.
Pawnshops: Convenient, but they might offer lower prices.
Online Buyers: Can be a good option, but research their reputation and check reviews.
Gold Parties: Events where you can sell your gold quickly, though prices might not be the best.
Watch Out for Fees: Some buyers might charge for appraisals, shipping (if selling online), or other services. Make sure you understand any fees involved.
Negotiate: Don’t be afraid to ask for a better price. Many buyers are willing to negotiate.
Sell at the Right Time: If gold prices are rising, you might want to wait a bit. If you need money now or think prices might drop, it’s best to sell sooner rather than later.
Call for advice: Sydney Phone 02 9020 5150
0 Comments