Selling Your Gold? Here’s What You Need to Know

A pile of gold jewelry

As we write this – toward the end of the second week in May – gold prices were on the rise, thanks to overall uncertainty in the stock market.

In fact, the price of gold was expected to continue to rise throughout the year, according to Neil Pereira of the International Finance Corporation.

“In the last year, we saw gold prices fall,” he said in an interview with Kitco News. “But in the last quarter of this year, we’ve seen a big increase and I think that’s partly driven by expectations of reduced long-term interest rates.”

His comments followed a statement from the president of the Federal Reserve Bank in St. Louis that a rate cut was looking more enticing to potentially give markets more credibility and reduce inflation.

And central banks in China, Russia, India and Turkey are all upping their gold purchases, Pereira said, which means “over the course of the next year, we’d expect gold to continue to rise.”

With that in mind, you might be thinking “How much could I get for the gold I have?” That’s understandable. If you’re looking to get cash for gold, Doylestown Gold Exchange offers some advice.

Remember that you don’t HAVE to sell

This is a point that we’ve made many times before on this blog. Think of gold as an investment, aimed at preserving rather than enhancing your wealth.

Investing in gold means you’re banking on the idea that the $100 you have today will be worth $100 next year. You’re not investing to make money, but to preserve it.

But at the same time, we recognize that you might find yourself in a situation whether you need some extra cash and type “cash for gold Doylestown” in your search bar.

If that’s the case, we’d recommend doing two things before you sell:

1. Know the value of your gold

There are a host of online sources that offer up the moment-to-moment value of gold and other metals. We even track these prices on our home page, where you’ll find listings for gold as well as silver, platinum and palladium.

It’s also important to know the karats of your gold jewelry before you put it up for sale. If something is listed as “14 karat gold,” that means it contains 14 parts gold and 10 parts other metals (gold jewelry is never made from pure gold, as gold is too soft and needs to be mixed with other metals to last.

Knowing the karats and current gold prices will help you be in a better place to negotiate when you find a buyer for your gold.

2. Have Your Gold Evaluated By An Expert

You’re looking to sell your gold so you should make sure you have a trustworthy expert take a look and evaluate your pieces.

If you’re looking to get cash for gold, Doylestown Gold Exchange can help. We’ve spent more than two decades building a reputation as a trustworthy buyer and seller of gold and other precious metals.

We don’t just see you as a one-time customer, but as a potential long-term relationship that we can build over the years.  Whether you want to sell gold coins or buy new gold jewelry. Stop and see us today and we’ll see how we can help you get the best value for your precious metals.