In less than three years, the value of gold has doubled. This is the first time that the gold price has been so explosively high. According to some experts, it is possible that the gold price will continue to rise for the time being. In times of crisis, investors choose to invest money in gold, because gold is seen as a safe investment. Today, not only gold is a good investment, but also other commodities such as silver, platinum, palladium and copper. Even the digital gold selling options are there.
The Value of Gold
Jewelry is never made of pure gold. Pure gold is soft, porous and fragile, which is why other metals are added to form a gold alloy that makes the whole harder. Metals used for this are silver, palladium, copper, nickel and tin. The addition to gold determines the color. Gold to which more silver than copper has been added is yellow in color. When more copper is added, the gold becomes redder in color. White gold gets its color from an 18 carat gold alloy with nickel and zinc. On the stamps on the gold you can read what the gold alloy is. The following gold alloys are common:
- 14 carat (585/1000)
- 18 carat (750/1000)
- 20 carat (833/1000)
- 22 carat (916/1000)
The higher the carat number, the purer the gold is. We speak of pure gold when it is 24 carat.
If you want to know how many grams of pure gold a piece of jewelry consists of, you can calculate it as follows. You first weigh the jewelry and then you look at the inspection mark on the stamp. Suppose the jewelry weighs 30 grams and the stamp has the hallmark 750, and then multiply the number of grams by the hallmark. You then divide the result by a thousand and then you know how much pure gold the jewelry consists of. As you Sell gold in Melbourne you can get the best options there.
Before you start selling jewelry or coins, it is important to check how many grams of pure gold it consists of, so that you are not fobbed off with a price that is too low. Traders can use scales, which are set to their advantage. It is also important to know the gold price. You can read the current gold price on the stock exchange. The price you get for your jewelry is not equal to this price, but is below it because middlemen also want to earn from it. In addition, the costs of melting the gold are also included in the price. As soon as you are aware of the amount of gold and the gold price, you start looking for a reliable buyer.
The most reliable addresses, according to experts, are the real precious metals dealers and the precious metals recycling companies, and not the jewelers or gold dealers. Precious metal trading companies are transparent and you can see the prices on the website. It is possible that a jeweler in your area gives a fair price for your gold; you can determine this by comparing the price with the prices of real precious metal traders.
The gold bought up by a jeweler or gold dealer is usually resold to a precious metals recycling company. The best thing to do, therefore, is to sell your gold to a precious metals recycling company, as you will get the very highest price there.