Gold, whether in the form of jewelry or objects of all kinds (coins, bars, etc.), has the advantage of being able to constitute an interesting investment, in particular because of its ability to be used as insurance in case other markets crash. If profits are your ultimate goal, knowing when is the right time to take action and sell gold is important. Our experts at Le Lion d’Or shed some light on the matter in this article!
Historical fluctuation of the price of gold
The year 2019 marks a historic fluctuation in the price of gold, where it exceeded $2,000 an ounce for the first time. Since then, the price of gold has remained in this zone, and even continued to climb. Several factors influence the latter, such as the main international marketplaces, supply and demand. The value of gold also tends to rise in times of crisis (think of the pandemic, which saw gold climb to a record high price over a 6-month period) or trade tensions (such as those between the United States and China).
Best Time To Sell Gold
The price of gold generally tends to rise, although its rises and falls are difficult to predict. It is of course more appropriate to sell your objects made of this metal when the price shows a peak in value, such as the one we are currently experiencing. If not, you are free to decide whether you prefer to wait in the hope that prices will continue to rise. Reading the news and regularly checking market prices, for example, can help you assess whether your initial investment is showing gains or whether it is better to wait a while longer. It is impossible to predict how the price of gold may move over time, although some estimates are possible. Apart from certain periods, when its price is clearly more advantageous, it is always appropriate to sell your gold if you need cash for the purchase of basic necessities or for making other investments (real estate, retirement funds, etc.). The best time to sell is therefore the most opportune time for you! Do you have gold to sell, or even diamonds or watches? At the Lion d'Or, in Montreal, we buy your objects and your jewelry, whether they are recent or old. Contact a member of our team to learn more and get the best price!