The days are slowly getting longer and spring is around the corner, which means a new fashion season will soon be upon us.
The jewellery fashion gurus are pointing to large hoop and chandelier-style earrings as one of the big trends in gold jewellery for the new season. Elaborate engagement rings, charm bracelets and necklaces that you can add to are also on the agenda.
The jewellery trend-spotters say that rose gold – which has been hot for a few years – will continue to be a major player this year, especially when it’s adorned with gemstones. Rose gold was originally fashionable in the Victorian era and takes its pinkish colour from copper added to the gold.
If you are looking to refresh your gold jewellery this year, a great way to fund it is to recycle your old broken and unworn pieces. The majority of the gold we buy goes straight back into the system to be refashioned into new jewellery, and it’s likely some of the brand new pieces you’re already lusting after have spent time in another incarnation.
You may have some rose gold in your collection, which can be recycled just like the purer forms of gold. It can be separated down to its constituent parts before it re-enters the jewellery world and may find itself as a yellow gold item next time around.
It’s also a great time to hunt out your unwanted gold even if you’re not looking to replace it, because gold is enjoying another surge in prices. The uncertainty around new US President Donald Trump’s policies means that investors are flocking to the precious metal as a safe place to put their money, so you can expect a decent return for your pieces. Remember, the ‘scrap’ gold price you receive will be lower than the main gold price, because your old gold has to be processed before it can be reused, but there are still plenty of opportunities to release and even make money from old gold pieces.
The price of gold hit the £1,000 an ounce mark earlier this week, making now a great time to make as much as you can from your old gold jewellery.
When you sell your unwanted or broken gold for scrap, the fee you’ll receive in return is based on the weight of the gold and the purity of the metal. Unfortunately, ‘scrap’ gold doesn’t pay out at £1,000 an ounce – the rate is lower to reflect the fact the old pieces have to be examined, processed and brought back into the system before they can be reused, and this all costs money. However, when the main gold price rises, the scrap gold price does too to reflect the value of the precious metal.
Once your old gold pieces have been assessed and weighed, they are melted down, usually to be used to make new jewellery. It’s remarkable that gold can be used again and again without every losing any of its value or lustre. The gold wedding ring you are wearing now could well have been mined centuries ago and have had many other lives before it found its way on to your finger.
This is another one of the beauties of gold recycling – not only can you earn money, but you are helping the planet at the same time. The more gold that comes back into the system means that reliance on mining new metal is reduced, and gold mining is well known for the damaging chemicals it uses to extract the treasure from the ground.
So if you’ve started 2017 in need of a financial boost, now is the ideal moment to get rummaging around for your unwanted gold pieces to earn some extra cash while prices are high. Don’t forget, we also take old and broken silver jewellery for recycling too.
India is one of the top countries for recycling gold and this wedding season, which runs through to May, it’s forecast that 400 tonnes of the precious metal will be melted down to create new jewellery.
It’s traditional to give heavy gold jewellery, from rings and bangles to earrings and pendants, as wedding gifts for Indian brides and grooms. This year, there is a shortage of gold available and jewellers are experiencing a steep rise in the number of people bringing in old gold items to be turned into new jewellery to be given as gifts, the International Business Times reported.
Around one million couples are expected to tie the knot during the wedding season and meeting demand for gold for the marriage market is proving difficult. The Indian government has imposed restrictions on importing the precious metal to try to reduce its trade deficit and import taxes have been increased three times in recent months.
Kumar Jain, a gold retailer in Mumbai, told Reuters: “In this wedding season, since there is no gold available in the market, people have started coming with recycled gold.
“They have started exchanging the old gold for new and pay the labour charges.”
India is the world’s second biggest importer of gold after China but the Indian government is trying to reduce the amount it brings in from abroad. It’s set up a number of initiatives to persuade people to part with their old gold, including specialist recycling centres around the country. The World Gold Council reckoned an astonishing 20,000 tonnes of the precious metal was tucked away in Indian homes in 2012.
The demand for gold may not be as great here in the UK, but when you recycle your old or unwanted pieces, much of it will be used in the same way as it is in India to create new jewellery.
It’s a New Year and time for a new look in your jewellery box.
According to industry watchers, gold is set to be a big trend in jewellery again this year – and the items made from it will be on the large side too. Experts are predicting everyone will be going mad for big earrings, such as hoop and chandelier styles, and chunky statement bracelets.
Charm necklaces are also forecast to play a big part in the fashionable woman’s jewellery collection this year, after the huge success of charm bracelets in recent years. Delicate collectible pieces that can be added to your necklace throughout the year are predicted to be one of the major trends for 2017.
It’s a great time for a New Year clear out of your jewellery box to make room for the exciting new pieces that are coming through. By choosing to sell your unwanted or old, unfashionable gold jewellery, you can raise money to replace it with new fashionable pieces and play a part in restocking the industry at the same time. All the precious metal for this new gold jewellery has to be sourced, and the more old gold put back into the system for recycling, the less that has to come from mining which can cause damage to the environment.
We don’t care about the age or style of the gold jewellery you send in to be recycled. As long as it’s pure gold, not gold plated, we can offer you a great price based on its weight and carat.
We also recycle silver items so they can be used again and again. In addition to silver jewellery, we’re looking for other old silver household items from bowls to hair brushes.
If your resolution was to declutter for 2017, we can help you make money from your clear out too.
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