You will find that there’s no better time than now to sell gold jewelry. Would you know why? In case you haven’t heard, you have been hiding in a cave somewhere, or you’ve been too preoccupied obsessing due to all of the bleak news in the economy nowadays to pay attention to the good news, the price of gold is on a meteoric rise as of this writing, valued at well over a grand per ounce. That is correct, you read correctly: You should be selling gold jewelry now because it is valued at well over one thousand dollars per ounce!
Gold has been consistently over the past several, climbing well above 20% annually, with the sole exception being a five percent decline in 2008. Even in the year 2009, gold managed to rebound from the global economic crisis and rebound already, at a 23 percent increase from year 2008 levels!
So what does this mean? It means that despite the cyclical bubbles and busts, and the rise and decline of the dot coms, the rise and fall of real estate, the near-collapse of the stock market, and the devaluation of the US dollar, all have proven to be rather volatile investments, the only stable investment during this entire period has been gold.
So if you have been in possession of gold for some time, now would be a perfect time to sell it, if you are in need of some extra cash as a result of this global economic recession that we have just been through.
So where ought you be selling gold jewelry? To whom should you be selling gold jewelry to? And how can we be sure that you get the most lucrative price?
These are all extremely good questions. There are two parts to the answer:
1. You should avoid selling your gold to a retail operation, at a pawn-shop, at a jewelry exchange. Essentially any type of direct-to-consumer retail shop is a terrible idea. Why is that the case? Because they are in in business for flipping gold. They desire to obtain gold from you with the intention of reselling it straight away, while earning money during the process. They essentially gold brokerages and are looking to earn commissions using the classic “buy low and sell high” strategy. So it is quite natural, they would be be faced with narrow margins of profit and would not be able to offer you as much as you would be happy with.
2. You ought to be reselling your gold to a gold refinery. Why is this the case? Because a refinery of gold is in the business of obtaining gold, melting it, and redistributing the gold raw material to other businesses. There is no middle man. There is no flipping gold for profit. They are able to offer you a much better price for your gold due to the fact that the profit margin in this type of situation is much greater. Thus it makes for a winning solution that makes happy both the refinery and you.
Gold is a stable investment vehicle, and has continued to remain so all the while that we have seen the boom and bust of the dot coms, the housing bubble and burst, the market crash of 2008, and the decline of the US dollar. So now is the best time to be selling gold jewelry