Investing In Gold And Silver For Capital Preservation And Appreciation

Have You Heard That The Price Of Gold Has Soared But The USD Dollar Has Plummeted?

It is true that the price of gold has soared recently, however people that don't receive dollars in USD should not get excited about selling their old jewelleries. The US debt uncertainty has seen the price of gold soar to new record levels; however the flip side of this is that the USD has dropped by the same value.


It is true that the price of gold has soared recently, however people that don’t receive dollars in USD should not get excited about selling their old jewelleries. The US debt uncertainty has seen the price of gold soar to new record levels; however the flip side of this is that the USD has dropped by the same value.

High Paying Gold Buyers – Due to this, the higher the gold price, the lower the value of the USD required. This doesn’t mean it isn’t a good time to sell your old unwanted gold, however the consumer needs to understand the relationship between the Gold spot rate and movements in the USD.

However, if you are making your sales in the US, you may not be affected by this changes. This has seen a huge number of US based people selling their unwanted gold jewellery for extremely good returns.

You can sell your scrape gold hence you understand that there is a relationship between this and the spot rate of gold everyday. However consumers should understand they will only receive a modest portion of this spot rate. If you were to weigh your gold and calculate it out based on the world spot rate, the following factors influence the price you receive. Firstly most people mistake the measure of weight in which gold is measured. Gold is weighed in Troy ounces which is heavier than your standard ounce. The troy ounce is31.1 grams while the standard ounce is 28.35 grams. This is why the consumer needs more gold to get to the magic ounce mark.

Rich Gold Buyers – Another factor is the purity of the gold. The spot rate attached to a pure gold is 99.99% purity. Most pieces of jewellery are far less than pure gold, with 9ct gold only being 37.5% pure. To this end, the seller must understand that they have less pure gold which will cost the buyer some money to turn these gold into pure gold. Refining fees are costly and buyers need large quantity of gold before they can be sent off for refining.

Also the gold buyer takes the risk of the gold price dropping between the purchased time and the refining time. This is a kind of lottery for the buyer so the risk has to pay off.

The refined gold products need to be paid. This is why many buyers look forward for a discount when buying scrap gold. Commonly large refining companies will want to buy somewhere around the 10% discount mark. They can then sell to other investors at a slightly higher price.

These are among the few factors any gold dealer takes into consideration when making an offer for your scrap gold. Due to the fact that everybody is looking to make a profit, the price may fluctuate based on the comfort margins that the buyers set.

You owe it to yourself to shop for the best price before selling your scrap gold. You may find that web and mail buying systems have the best pay-outs. Most often, travelling buyers pay less as they tend to consider their time and travelling expenses. Before you sell, shop around and find someone that is honest and reliable enough to work with. Find gold buyers within your location

Get more information about gold buyers on Postal Gold.

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