Scrap Gold and the Conflict in Ukraine  

As the politically ostracized Russian President Vladimir Putin continues to wreak havoc in Ukraine, rising inflation and global uncertainty mean that now may be a good time to sell your scrap gold

Political turmoil supports a sellers’ market 

The war in Ukraine is by no means calming down. The statistics are a sobering reflection of this. According to the UN, there are over 2 million refugees, a testament to the extreme human suffering in Ukraine. And with this suffering and turmoil comes great global uncertainty, adding to fears of mounting inflation and pushing up the value of the safe-haven metal, gold. 

In times like these, individuals tend to move away from investments in stocks and bonds. And towards tangible possibilities such as gold. Last month, the gold price rose by 8 per cent. And with the conflict in Ukraine set to deepen, gold is likely to continue to rise. Russian President Vladimir Putin is being investigated for war crimes. Germany’s federal prosecutor is laying down the path for such accusations. On March 10th, gold was trading at around £1,517 per troy ounce.  

Why now may be a good time to sell your scrap gold 

Individuals looking to sell gold are in a good position in times of uncertainty and political turmoil. If you need to liquidate some cash and you own scrap gold that you don’t mind exchanging, this could be the opportune time. Gold jewellery, coins, trinkets, even dental gold fillings – you name it. We can convert your gold into cash so that you can buy something you plan to keep.   

Gold isn’t the only commodity affected by the situation in Ukraine. European gas prices have increased by 33 per cent in response to Russia threatening to shut off supplies following sanctions imposed by Europe on Russia. The incident at a nuclear power facility in Zaporizhzhia, southeastern Ukraine, has also driven uncertainty levels up. And therefore, gold prices too. With an air of anxiety surrounding a future nuclear disaster, and after the attack on Europe’s biggest nuclear plant, gold prices reached a six-day high at above £1,485. 

How to use our gold price calculator 

To find out how much your gold is worth, why not try out our easy-to-use gold calculator. All you need to do is enter the weight and carat of your precious belongings. And we will tell you how much you can make from selling your unwanted treasures. We’re an online business. This means that, on the whole, we can offer a more competitive price than you’ll find on the high street.  

Ready to Sell? 

At UK Scrap Gold, we have an expert customer service team who are always on hand to assist with any queries. If you’re in ownership of gold objects that you wouldn’t mind parting with and would like to liquidate some cash, please fill in our seller’s form, it’s easy to do. Simply provide your personal details, contact details and more information about the item you intend to sell. 

If you have any questions or would like to book a consultation, get in touch with our team today on 01902 623 254.