Reselling Your Gold Jewelry While Prices Are High
Gold prices are rising in light of global economic uncertainty, which means there’s never been a better time to sell your gold jewelry.
Rising Gold Prices Mean Great Time to Sell
With the U.S. and China locked in an increasingly costly trade war, investors are wary about what lies ahead. To hedge against uncertainty, most investors buy gold; this is because gold has intrinsic value, unlike banknotes. And with investors hurrying to buy gold before the next round of trade war escalations, gold prices are naturally going up.
Many non-investors can capitalize off this current state of the market, particularly if they sell gold jewelry, diamonds, or estate jewelry. There’s never been a better time to sell to luxury gold buyers, especially since there’s no guarantee that prices will stay this high forever. Below are a few more reasons which speak to why selling your gold now, while prices are over $1,500 an ounce, is a good idea.
Gold Prices May Not Stay This High for Long
Although gold is presently trading at more than $1,500 per ounce, such may not be the case for much longer. The Federal Reserve intends to cut interest rates for a second time this year. If this should happen, many investors will convert their gold assets to stocks, bonds, and ETFs.
A significant sell-off of gold assets may be on the horizon, for this reason above regarding the Federal Reserve, and also because the U.S.-China trade war may deescalate sooner than expected. In either case, selling your unwanted gold, diamonds, or estate jewelry to trusted gold buyers, before gold prices drop below $1,500 an ounce, is a good idea.
Bitcoin and Other Cryptocurrencies Are Replacing Gold
Many investors, particularly those living in China, are investing in cryptocurrencies to hedge against inflation and instability. Bitcoin’s decentralized nature is appealing to many risk-averse investors, and its integration in many places around the world is also an encouraging sign. The Chinese government has shown that it is willing to devalue the nation’s currency to deal a blow to the U.S. in the ongoing trade war.
But such moves hurt domestic consumers more than anyone else. To protect their assets, many in China who would’ve flocked to gold in the past are instead relying on bitcoin.
There’s Always a Demand for Gold
Gold prices may fluctuate from time to time, but there will always be a stable demand for gold. As a precious metal that’s beyond compare. Most individuals see gold as more than just an investment tool; it’s great when used in jewelry, decorative items, coins, and dental fillings. But gold is not for everybody, and such is why luxury gold buyers are around—they purchase unwanted gold jewelry, gold watches, and gold coins. And if you resell to a first-rate dealer like Cook County Buyers, you’re guaranteed fair prices, expert knowledge, and exceptional customer service.
Find a Trusted Gold Buyer
With gold prices resting above $1,500 (at the time of writing this), now is a great time to sell your unwanted gold jewelry. Loose diamonds, and estate jewelry to a trusted gold buyer.
Cook County Buyers is a leading buyer of unwanted gold items. Mike Jacobson has industry knowledge and experience that is hard to find anywhere else.