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If you want extra cash now is the time to sell gold jewellery, from your tangled chains to earrings found in the back of your jewellery box. The truth is those gold jewellery pieces you never wear could be worth cash in hand.

While the gold prices hover around the $2,000 per ounce mark, it is expected to stay robust throughout 2022. So for you, this is an excellent time to sell unwanted gold jewellery if you are strapped for cash.

what is driving the gold price?

You may find that it is worth something when you have it assessed by a gold buyer. Yet, keep in mind that the gold buyer is not looking for your jewellery pieces but the gold content inside bringing value. Still, what is driving the gold price? Well, in times of crisis, you turn to gold for your stability, increasing the value of the precious metal.

Still, even if the war and other crises settle down, you have different contributing factors that will continue. Hence, if you need to make quick cash, turn your gold bars, rounds, and commemorative gold pieces into cash to yield more now than later.

On the other hand, you might be surprised that you can get a good payout. Many gold sellers predict that the value of gold will double this year. The saying goes that when the stock markets struggle, the precious metals move in the opposite direction.

How you can sell gold jewellery?

So, if the price of gold at about $2,000 sounds good, here is how you can sell gold jewellery. First, gather your gold jewellery pieces and determine the golds worth. Then, categorise each gold piece into the karat marking and weigh the items to calculate a melt value.

If you cannot find the karat marking, visit two local gold buyer shops to see what they will pay for the gold jewellery pieces. Then sell your gold items to the local dealer that offers you a reasonable percentage of the melt value.

The important thing is to get the best price for your gold jewellery. So to find the current gold price check it out online at an institutional seller for the spot price. On the other hand, you can only expect a buyback price below the spot as they need to make a profit.

You can then aim to get between 90% to 95% of the gold spot price selling gold bars and coins and between 70% to 80% of the gold jewellery and other items’ melt value. While you do have two ways to sell precious metals online and to local buyers.

The advantage of selling to local gold buyers is that you get your money fast at the same time as you receive your offer. Doing this is relatively safe compared to trading gold online, where you must wait for up to a week. In addition, the price of gold can change when sending your items per post and receiving the buyback offer.

So, head to a gold dealer that buys gold and other precious metals to have it assessed on the spot to offer you a price based on the amount of gold present.

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