Trading Gold in Australia
Selling your gold or golden jewellery is never easy and it shouldn’t be. There are a lot of reasons why you might want to sell it but ultimately it does not matter. What matters is that you want to sell it and now you need to choose Melbourne’s highest paying gold buyers.
The good news is that the price of gold, although still somewhat volatile, has been on the rise. This has led to a rise of various gold dealers and gold dealing companies and not all of them do business in good faith.
Before Going To A Gold Dealer
Selling a piece of jewellery is not something that should be done at a whim. Take your time and think about it. Once you are sure that you want to sell, measure your gold and make sure that it does not have any antique value.
It is also a good idea to polish the piece you are trying to sell and make it as appealing as possible. You will most likely be paid only for the weight of your piece but it won’t hurt if the gold dealer likes it. Who knows? He might end up buying it for its beauty.
Choosing a gold dealer
There are a couple of things you need to look out for when you are choosing what gold dealer you want to sell your piece of jewellery to.
Ask the gold dealer to tell you the quality and the weight of your gold. It would be best if you already know this because that way, you will be able to spot a shady gold dealer straight away. If you don’t have this information, go and ask a couple of them. If they all say the same thing chances are that they are telling you the truth.
While we are on the subject of visiting multiple gold dealers, always visit as many as you possibly can. The prices are up and there is something akin to an industry standard but does not mean that they will all give you the best possible price. Ask around.
Do you research. We cannot stress the importance of this step enough. Beside knowing as much as possibly about what you are selling, you need to know as much as you can about who you are selling to.
Respectable gold dealers will have a website and you should visit it and learn all you can about them. It is also a good idea to look for recommendations. There are a number of forums and websites where people post their experiences with selling gold and you need to inform yourself.
Try and make a list of the dealers that are highly recommended and visit those first. There is a reason why people are satisfied with their services.
Don’t take your eyes away from your gold. Even when dealing with a trusted gold dealer you need to be vigilant. There are too many tricks for us to list here that can put you in a heap of trouble. The safest course of action in avoiding them is to always have your gold in your line of sight.
It is a good time to sell your unwanted gold jewellery and you are bound to get a good price for it. We can say this with a level of certainty as the current price for 1gram of 24k gold is AUD 1,713.82. The expected rise in U.S. interest rates and uncertainty over the new U.S fiscal policy have also contributed to a more stable price of gold.
All of these facts tell us that it is the right time to sell your gold as we can’t say with certainty for how much longer will this trend continue. The time is right to sell so follow these advices and you are bound to get the best price possible.