The Gold market is all over the place. In the last Ten Years we have seen gold go from around $450 an ounce to $1800 an ounce and back down under $1200 an ounce. If you were one of the lucky ones, you bought your gold in 2005 and sold at the end of 2011. You bought a mere 3 oz of gold @ $450 an ounce and then sold them @ $1800 an ounce. What cost you $1350 you could have sold for $5400 and have made $4050 profit. That is if you were one of the lucky ones that bought gold, had it since then, and sold it at the right time.
Times have changed. Gold is not a get rich quick investment any more. Gold is still a good investment and has proven to be so long term.
Since 2013 Gold has been on a Downward Trend, So is now the Right Time to Sell Gold?
1. Yes, if you have broken or unwanted scrap gold. Jewelry that you no longer wear, pieces that are more expensive to repair than what you paid for them, engagement rings from a divorce, etc.
2. Yes, if you have coins or bars that you bought as an investment and paid less for them than what they are worth today.
3. Yes, if you have inherited gold from an estate. Laws are only getting worse when it comes to moneys earned from an estate.
4. Maybe, if you have a need for some extra money. Your jewelry may be worth more than you think right now.
5. Maybe, if you bought gold as an investment when it was really high and you are upside down on it but want the cash back for short term gains.
6. No, if you bought gold as an investment when it was really high and you are upside down on it if you can wait for the market to return.
7. No, if your gold is worth more than any price that can be but on it. Money can’t replace grandma’s heirloom ring.
So is now the time to sell your gold. Ask yourself, Do you want to wait and see or do you want to know that you are getting a fair price for your gold based on today’s market. Call Tidewater Diamond today and set an appointment for a free quote on your gold. Or visit us at 200 Battlefield Blvd N #3 in Chesapeake, VA. Walk-ins are always welcome.