Gold is the foundation of the global wealth system and like most commodities, the price (per ounce) fluctuates. Many private investors include gold in their portfolio and for good reason, as gold is regarded as a relatively safe investment, which can be a hedge against inflation.
The purest form of gold is 24k, the karat is an international system for grading gold purity, using a division of 24 parts. Pure gold is 24 parts, or 24k, which is very malleable and unsuitable for jewellery; other metals can be alloyed with the gold, 18k is common with jewellery, which means the gold is made up of 18 parts gold and 6 parts of other metals. There is also 9k gold, which is obviously less valuable than gold of a higher purity. Most gold jewellery is 18k, which is alloyed with copper or silver, adding strength and durability.
Separate Karat Gold
If you have quite a few jewellery items that you wish to sell for scrap gold value, you should separate them into the various karats, which helps you to find out the spot price. You can easily find good buyers online. City Gold Bullion is buying gold Brisbane sells; if you are located elsewhere, you can do a quick Google search to find a buyer near you. Reputable gold dealers are often preferred, and you can check the spot price on their website. When you are ready to sell your gold, take it to the offices of a leading gold bullion dealer who will pay you cash on the spot.
Avoid Mail-Your-Gold Operators
You have probably seen a lot of ads on the Internet, offering to pay top dollar for your gold. They send you a stamp addressed envelope and you send the gold to the dealer. There is a lot of fraud and it is certainly not recommended that you sell your gold this way; don’t part with the gold until you see the money.
Bookmark Gold Bullion Dealer’s Website
As you probably know, the price of gold fluctuates and if you bookmark a reputable gold bullion dealer’s website, you can check the spot price whenever you like. The spot price changes numerous times per day. If you have a considerable amount of gold to sell, it is important to know the spot price, which is given for one ounce.
Some pawnbrokers buy scrap gold in the form of jewellery and prices would vary and likely be less than the spot price at that time. Selling your gold to a reputable gold bullion dealer is the best way forward and you get the best price. You could enquire in jewellery stores, as some buy scrap gold. Google the nearest gold bullion dealer and you can get the best possible price for your gold.
The pandemic wreaked havoc all over the world and markets are volatile, which means many investors move into gold, which is regarded as safe. If you are not desperate for the money, it might be best to hold on to the gold, as the experts predict a surge. Many are saying the U$2,000 per oz mark will be hit in 2023.