If You Bought Jewellery 10 Years Ago, You’d Be Making Money on the Gold Today
Sterling silver is prized for its brilliance and value, making it a popular choice for jewelry, flatware, vases, and more. Its beauty and market worth set it apart from silver-plated or imitation items, which often lack the same luster and longevity.
When purchasing or selling a diamond, ensuring it comes from an ethical source is crucial. The history of blood diamonds, particularly in regions like Sierra Leone, has led to global efforts to promote transparency in the diamond trade. Today, a diamond report plays a vital role in verifying the ethical chain of custody.
Silver’s price action has been building up to this moment, with repeated tests of resistance over the past month.
Sell Your Old Gold Jewellery to GoldCompany in Sydney
The global gold price is primarily determined in two major markets: the London Bullion Market and the COMEX (Commodity Exchange) in the United States.
Gold has reached yet another all-time high, with prices surging over 50% in just 14 months. For the first time in history, gold’s total market capitalisation has surpassed an astonishing $20 trillion.
Gold prices have hit record highs, currently sitting at AUD $4,631.51 per ounce.
The price of gold has surged to an all-time high of AU$4,245 (US$2,798), driven by weaker US economic data and growing expectations of interest rate cuts by the Federal Reserve.
A significant surge in gold shipments to the United States has precipitated a notable shortage of bullion in London, as traders amass substantial stockpiles in New York amid concerns over potential tariffs from the Trump administration. This movement has led to increased waiting times for withdrawing gold from the Bank of England’s vaults, extending from a few days to between four and eight weeks.