The UK is in what may be its worst recession in living memory, but it’s not all doom and gloom. The economy grew slightly in June and July, and the price of gold is near all-time highs.
Today, 2nd September, gold prices are £1,464.23 per troy ounce , while at the beginning of August they were at a record high of £1,508, coinciding with a recession threatening jobs across the country.
The recession is likely to start a gold rush, as investors look to flock to this safe haven asset to protect their wealth. It might seem like an illogical time to start investing in precious metals, but as those in the gold community know, gold often holds its value extremely well during tough times.
Is gold on an upward trend?
Gold prices have been rising for quite a long time. Prices have virtually doubled over the last 10 years and by a staggering 30 per cent this year. With the recession developing many in the gold community will hope that gold holds its value for the next few months at the very least.
Why do gold prices hold their value during times of crisis?
Gold is considered a safe haven asset. A safe haven investment is expected to either retain or increase its value during market volatility. Safe havens are turned to by investors when they are trying to protect their wealth in response to economic downturns like recessions.
Gold is less turbulent than stocks, which can fluctuate wildly in periods of recession. Gold is also thought to be a hedge against inflation.
Sell scrap gold online
All this means that if you happen to have scrap gold at home, with prices being as high as they are, you could stand to earn a decent sum of money selling your scrap gold.
We accept items containing gold, silver, platinum, or palladium. Here’s a full list of what we buy. So whether you have any unwanted jewellery at home, trophies, tableware or scrap we will offer you competitive rates. On the other hand you might have gold bars or coins purchased as an investment, which you wish to now sell.
Whatever the case, selling scrap gold and precious metals with UK Scrap Gold is a quick and easy process.
At the time of writing, we can offer you £16.62 for one gram of 9 carat gold. This competitive price beats many scrap gold purchasers. So, if you had a 9 Carat necklace which weighs 7 grams you could make £116.34 at current prices.
How it works – 3 steps
1. Use our gold price calculator to value your precious metal at home
2. Post us your gold – by Royal Mail Insured Delivery
3. Receive your payment in just 24 hours
Sell to UK Scrap Gold to receive payment on the same day we receive your items.
Sell your gold with UK Scrap Gold
Send us a message via our online form or contact us by telephone to discuss your items. We can be reached on 01902 623 254.
If you’d like to book an appointment to chat face-to-face give us a call. Our office is based in Wolverhampton.