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Selling Your Gold: How to Know When the Time is Right

Do you have a stash of gold you’re hanging on to? Whether it’s your collection of gold coins, old unwanted jewelry, or something you have recently inherited, it all has value. But, how do know when to sell your gold for the highest value? Figuring out where to sell your gold is one thing but knowing exactly when to sell your gold is another factor in ensuring that you get the most for your valuables.

It’s impossible to know when gold prices will fluctuate, but you can be certain that they absolutely will. Economic conditions and investor demand are usually the biggest influencers, but there are several indicators that can tell you if your gold is in fact the most valuable right now.

Gold Value in The US and Global Economy

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In times of uncertainty, gold is often seen as a safety net since it retains its value despite instabilities in the global and US economy. Watching trends and predicting these uncertainties could potentially mean significant gains for you when you sell your gold at the right time.

The first high spike in gold value was between 2009 and 2011. This was at the height of the financial crisis. The second spike involved the Brexit vote of 2016. These times led to overwhelming economic uncertainty, and in moments like these investors tend to flock to gold which increases demand, which leads to increased prices, which ultimately increases gold value.

The trade war between China and the US, as well as global growth slowdown, originally spiked stock market prices, which have since begun to drop. Though events such as these may not be great for the global economy, it’s great news for gold value. In fact, gold is currently at a 6 year high, closing at $1508.00 per troy ounce just this past week! Typically, this would be a good indicator that selling your gold may be a wise decision.

The Increase of Real Interest Rates

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Many people believe that that gold value is driven down when interest rates rise because gold pays no dividend or interest. It’s not uncommon to hear experts state that gold value should fall when interest rates increase.  However, it’s essential to pay attention to what real interest rates are doing (the nominal interest rate minus the rate of inflation).

The Dow Gold Ratio

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Simply, the Dow Gold Ratio, which is the Dow Jones Industrial Average divided by the price of gold, indicates how many units of the DJIA you could purchase for 1 ounce of gold. This is one of the oldest indices in the world. 

Just this past week (As of August 5, 2019) the Dow Gold ratio was sitting at 17.7. 

Gold: Everyone is Talking About it

You probably have friends, family, or acquaintances that also own gold. When these people begin discussing gold, or make mention of selling, it’s probably a good time to look into selling your own gold as well.

Rising gold value typically becomes a topic of major discussion in every outlet whether it be from the media, social gatherings, or coworkers chatting about it on break. Pay attention within your social circle for it may be giving you helpful clues as to when the time to sell is right.

Gold in Exchange for Quick Cash

Sometimes the reason to sell is just as simple as needing the money. If you get sick of holding on to your gold for investment purposes or find yourself in a financial bind, then you can always sell at any time. Gold will always have value no matter what the circumstance.

It never hurts to get an evaluation on your gold or unwanted jewelry pieces to see what you could potentially get for selling now.

What it all comes down to is having a plan. Whether you want to hold on to your gold forever, pass it down to your children and grandchildren, sell it to pay off some debts, or sell it when the gold prices are as high as they are now you have to make the best choice for what works best for you.

How to Sell Your Gold the Right Way

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If you’re looking for the best time to sell your gold, now may be it! There’s no saying where it will go even next week. If you’re looking for the fairest gold buyer, you need to look for someone that truly uses it and needs it. A good example is a company that manufacturers things from gold, such as a reputable jewelry store. A good gold buyer will pay fairly based on the current market rates. Sell gold only when you feel comfortable with who you’re dealing with and with what you’re being offered. Generally, when gold is up it is also a good time to sell silver. Silver values tend to fluctuate along with gold values. Not all gold buyers are the same! Most gold buyers buy gold to sell to a refinery. People that sell jewelry may be able to offer more when buying jewelry that can be refurbished or repurposed. As a service to our clients, we pay market-based prices for your scrap gold, fine jewelry pieces, and substantial premiums for designer jewelry, fine gemstones, diamonds, and fine watches. We are also very aggressive buyers of sterling silver flatware, bullion coins, and all collector coins.

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