If you’re sitting on a collection of old, unwanted gold jewelry, you may ask yourself how you should manage these valuables. Where should you keep them? Who can evaluate their value? Mostly, though, you might want to know the answer to the question, “When is the right time to sell your gold jewelry?” This article will delve into that question so that you can walk away with some food for thought.
When There’s Economic Uncertainty
When the global economy reaches moments of instability, gold still retains its value. As a result, investors turn to gold whenever there are serious concerns about the economy’s health. Gold prices reached a spike between 2009 and 2011 at the height of the financial crisis. Another spike came in the wake of the 2016 Brexit vote. If you want to know when the right time to sell your gold jewelry is, you should wait for those types of disruptions in the economy. They signal the greatest returns for your gold.
After Calculating the Dow Gold Ratio
You can calculate for yourself whether you should sell your gold jewelry based on the Dow Gold Ratio. To calculate the Dow Gold Ratio, take the Dow Jones Industrial Average and divide it by gold’s price. This will tell you how many units of the DJIA one ounce of gold can purchase.
When Everyone’s Talking About It
Sometimes, you can know if it’s time to look for a gold jewelry buyer just based on conversations in the room. When your friends and family start discussing a desire to sell their gold jewelry, it may be time to consider that direction as well. When gold’s value rises, it often becomes a talking point in the media. This can then trickle into everyday conversation. Listen for the right opportunity.
When You Need Cash
If you’re in a financial bind for whatever reason, selling your unwanted gold jewelry may be a fine solution. Gold will remain valuable regardless of the circumstances. There’s no guarantee that you’ll get a great deal if you sell whenever your finances compel you to do so. But gold owners can rest easy knowing they always have this as an option.