If you have gold that you are thinking of selling, there are a lot of factors to bear in mind. Whether you decided to invest in gold sovereign coins or maybe even inherited a gold coin collection, working out when is the best time to sell gold can seem tricky. The ideal time to sell your gold is determined by two main factors: the value of gold and the necessity of the sale at the time.
Whilst a milestone like buying your first home or saving for retirement may lead you to consider selling the gold bars you have been holding onto, it is also important to consider the price of gold at the given time before making a decision. As with any investment, the aim is to be able to sell when demand is high and make a profit from your gold bullion.
By reading this blog, you will find out about the gold market, discover how the value of gold is determined, and learn about other considerations that may help you decide whether you should sell your gold, and how to do it.
Why is Gold so Valuable?
Gold has been one of the most valuable metals for several centuries, with evidence suggesting that it was first used as currency over 7,000 years ago. As gold still has a high value even in today’s market, it is seen as a unique and worthwhile investment that can provide longevity by holding its value even in the most testing times.
What is the Value of Gold Today?
The current price of gold is a key indicator of whether or not you should sell your gold coins or gold bars. The age-old phrase ‘buy low, sell high’ is as applicable for the gold market as it is for every other asset or investment.
However, predicting when gold prices will rise and fall can be hard. When the economy has been impacted by unpredictable events, such as the 2008 recession and the uncertainty of the effect of the 2016 Brexit vote on financial markets, the price of gold has soared. This is because investors seek assets that can offer a degree of long-term stability and some much-needed insurance when other asset markets may crash. The same can be said of the current coronavirus pandemic, as we have seen gold prices reach record highs, so this could be the best time to sell your gold while demand is high.
Whilst it can be a little tricky to predict changes to the gold market, gold has maintained an intrinsic value throughout, and spot prices will tell you the current value of gold at any given time. Our live gold pricing chart is updated every 60 seconds, and includes gold bullion values as well as silver, so you can ensure that you have the latest information to find out the value of your gold and silver assets.
How Do I Find the Best Price for my Gold?
Once you’ve decided to sell your gold, you need to decide who to sell your investment to.
Whilst you may be thinking about selling your gold to pay off bills, or maybe you’d like to keep some cash back for unexpected costs, selling to somewhere like a pawn shop may not be the best way to go about this. They are reliant on your immediate need for cash and will perceive this as a willingness to accept payment that doesn’t reflect the true value of gold at the time.
You will get the fairest price for your gold by selling to an established and trusted business that specialises in gold and silver assets.
For over 30 years, Atkinsons Bullion have prided ourselves on being a family run business that provides a value driven service for our customers. Whether you’re looking to sell gold coins or gold bars, we specialise in the purchase and sale of gold and silver, providing a trustworthy service to customers throughout the UK.
If you think now is a good time to sell your gold, then Atkinsons Bullion would be happy to help. Whether you wish to sell gold bars or sell gold coins, our team will offer you market-leading rates. For more information and to obtain a quote based on live gold prices, you can email us at email@example.com or call us on 0121 355 0620.
This blog represents one person’s opinion only. Customers should conduct their own research and take advice before making an investment. We do not offer investment advice.