Gold is preparing for a new bull market. Regardless, not many financial commentators appear to be discussing it. The price of gold is nearing seven-year highs. And the year 2022 is going to be even better for the gold price. If you are in the market to sell some old gold jewellery now may be the time to visit your local gold buyers as many gold buyers are reporting and increase of demand of people selling unwanted gold jewellery and bullion bars.
We shall discuss gold jewelley purity to better understand gold pricing and value.
Gold purity
Learning the gold purity or carat will make it easier to understand the gold buying testing process and will assist you in achieving the highest price possible for your unwanted gold jewellery. Remember the gold price which you see quoted on the news is based on pure 99.99% gold or 24k. Here is a list of what to expect with gold jewellery purity.
- 9k gold or 37.5% is the most popular gold jewellery type found in Australia.
- 14K gold is usually found from European nations and it contains 58.3% gold, with the remaining 41.3% being an alloy of sorts.
- 18K Gold or 75 percent gold and 25% other alloyed metal/s make up 18ct gold, this is the most often used purity of gold in jewelry in many nations such as Italy and including Australia because it provides a good balance of price and purity (and excellent color). It is considered the European gold purity standard.
- 22K Gold 91.7% gold and 8.3% alloy mostly found in India
- 24K Gold is the gold with 99.99% purity, meaning that all its 24 units are 999 parts of pure gold and mostly made in Hong Kong.
Reasons for increased gold prices
Listed below are a few reasons why the gold price ordinarily rises, this may assist you with your decision to sell gold jewellery and getting a higher price for it.
- Instability around the world / or War
- Government policies that involve excess borrowing
- A lower dollar in the United States or in your local country
- Broken down Supply chains
- Inflation
The reason why owning some gold is such a great asset right now is due the many issues the globe is facing with inflation and political instability.
So if you have some old unwanted gold and in need of some cash now might be the time to visit your local Gold buyers and put that cash to some use.
Selling gold jewelry to gold buyers
If you have decided to sell your old gold jewelry items here are few tips for your consideration
Start by searching in google for your local gold buyers. Check their pricing per gram and see if any other customers have left them a review. Try to avoid a pawnbroker as often they will just re-sell your jewellery to a gold buyers.
Gold Buyers are dedicated to offering the most competitive rates and the most reliable gold purchasing services. This is due to the fact they specialize in gold only unlike pawnbrokers who may also focus on other items such as laptops or musical instruments. So why not visit a local gold buyers today?