Gold prices are on the rise
The price of gold tends to increase during periods of political turmoil and global uncertainty. Far from calming down, 2022 has had more than its fair share of these – and we’re only in April!
The Russia – Ukraine conflict has fuelled economic volatility, on top of the ongoing challenges of Covid and, of course, rising levels of inflation. True to historical form, the price of gold has risen. You can take advantage of the increased gold prices by selling your scrap gold today.
Why it may be time to turn your gold into cash
It’s possible that you are holding onto a gold item that you no longer value as you once did. If you’ve got a gold ring or an item of jewellery that you are happy to part with to make some quick cash, it may be a good time to think of selling.
The other side of the coin: sellers beware
As the conventional saying goes, buyers beware. This phrase refers to the idea that buyers should be wary of the seller as they have less information than the seller about the goods or services they are purchasing.
With gold, this is not always the case. It is the sellers who should beware as the buyer of gold often holds more information than you. Purity is the big issue here; a reputable buyer should be able to test the purity of the gold and offer you an honest price based on their findings. You need to trust that what they tell you is the truth and that they have offered you a fair price for the quality of your gold.
We want you to be a savvy seller
The gold buying market is not full of dishonest individuals and operators. We just want you to be aware of the possible risks when selling your gold.
The likelihood of getting an unfair price for your gold is higher when the precious metal is doing well. That’s why we’ve put together a few of the strategies a gold buyer could employ to fool you so you can be on the lookout.
The red flags to look out for
A dishonest buyer will use sneaky tactics when buying your gold. Firstly, they may list the spot price of gold rather than the price they are willing to pay. They may also label the price in ounces to confuse you. As you are selling scrap gold, you will most likely have grams of the precious metal – not ounces.
Be very suspicious of a gold buyer that does not publish their rates before receiving your items. “Best price guaranteed” is not the same as a genuine guide price!
Most buyers will not give you a value anywhere near the spot price. However, UK Scrap Gold pays 95% of the gold spot price to the seller. To be clear, the spot price refers to current value of gold on the investment markets.
Moreover, UK Scrap Gold is the only company in the UK that offers a fixed price based on “Live Spot Rates”.
A great way to release cash
Selling your unwanted gold can be a quick and efficient way of liquidating cash. At UK Scrap Gold, you’ll always get the price you deserve, whether your gold is hallmarked or not. The reason for this is that we always check the purity of your precious metal; the price we pay you is determined by its true purity.
Sell your unwanted gold today
Our process is very simple. To estimate the value of your gold, use our gold calculator. Enter the weight and carat of your gold, and we will estimate its value. For example, 2 grams of 14 carat gold would get you £52.98 today (5th April).
If you feel it’s time to say goodbye to your gold, please fill in our seller’s form. Just give us your contact details and some information about the item you would like to sell. We would be happy to help with any of your queries regarding gold. Feel free to get in touch with our team today on 01902 623 254.