It has never been so tempting to sell your gold. For the first time, an ounce of gold crossed the $ 2,000 mark last August and has remained in this zone ever since. Is it a good time to sell? First, here is a few explanations on the mysterious world of gold.
The price of gold has hardly stopped rising for a year. This course is officially established in London, twice a day, by the London Bullion Market Association (LBMA), through a complex process taking into account major international marketplaces and based on supply and demand. Of note, gold hit its all-time high of US $ 1,771.85 per ounce in September 2011. But that month, the US dollar was unusually weak, worth $ 0.95 Canadian. In August 2019, the price of gold was much lower on the world markets, around US $ 1,500. But the US dollar was worth CAN $ 1.33.
31.1035: weight, in grams, of an ounce of gold, known as “Troy”. The regular ounce weighs 28.35 grams. The persistence of this feature, which dates from the XVth century, is a mystery.
Tensions and oil
A safe haven par excellence, gold regularly sees its price rise in times of crisis or trade tensions. The clash between China and the United States could explain the most recent outbreak, according to many experts. The weakness of the Canadian dollar, on the other hand, is generally associated with the price of natural resources, primarily oil. As for the increase in 2011, it would simply be a speculative bubble that burst in early 2012.
190,040: estimate, in tonnes, of the quantities of gold that have been mined on Earth since the appearance of humans. Two-thirds have been mined since 1950.
Why is gold loved?
Gold is a metal that has accompanied the history of mankind, found in virtually all civilizations. Why? It is probably because he’s shining like the sun. You can get the best Gold nuggets buyer online now.
What is a carat?
Gold being a soft metal, it must be alloyed with another metal such as silver, copper, platinum or nickel to be usable. The proportion of gold in this alloy is expressed in carats, 24 carats being the most total purity. An 18 karat ring will thus contain 75% gold, that of 12 karats, 50%. The indication of the number of carats, called a “hallmark”, is generally found on the inside of the jewel. And it is not a matter of coquetry left to the discretion of the jeweler. It is an official mark measured by customs, it is extremely serious and fraud is punished very severely.
In search of the best price jewelry stores, counters of all kinds, postal offer: there are many possibilities when you want to sell your gold. What is the best method? What precautions should I take?
The vast majority of buyers will only consider one factor, which rules out artistic merit: the weight in pure gold. If the jewel contains precious stones, only a gemologist and some specialized jewelry stores can provide an evaluation. If the jewel contains precious stones, only a gemologist and some specialized jewelry stores can provide an evaluation. For more on this matter you can search online.
Calculate your gold
First you have to remove any precious stones and weigh only the metal a simple kitchen scale will do for a first assessment. The number of karats determines the purity of the gold: 24 karat gold is pure, that of 18 karats contains 75%, that of 12 karats, 50%. Once the number of grams is determined, check the price of gold.