You don’t have to be a top-grade economist to know that gold is very much in demand at the moment. Prices hit an all-time high of £1,277 per troy ounce in early September. A dip in the past couple of months has taken prices back down to almost £1,157 as of late October, but prices remain an impressive 21 per cent higher than this time a year ago.
These high gold prices have proved to be a great financial boost to families with significant holdings of gold. Many communities revere the yellow metal as a bringer of good fortune, often collecting large quantities of it ahead of the wedding season. However, high prices have also increased the demand for scrap gold too.
Families have become increasingly tempted to sell scrap gold this year, particularly those in the South Asian community, after police warned over the summer that gold burglaries among families of South Asian descent had spiked in recent years.
The warning about a spike in gold burglaries comes after an investigation by the BBC uncovered that as much as £140 million worth of gold jewellery had been stolen from families of South Asian descent since 2013. In 2017-18, the Metropolitan Police recorded 3,300 thefts of gold, reflecting the risk posed to those holding large holdings of gold, at a time of elevated gold prices.
It’s no surprise that demand for gold has spiked – high prices are just a symptom and if people sell scrap gold at the right time, they could be making significant sums of cash in next to no time at all. Scrap Gold UK has handled the sale of scrap gold for many years, so are well placed to assist those wishing to sell.
If you have a family heirloom just waiting to be realised as a potentially large sum of money, you’ll be pleased to know that just one gram of nine-carat scrap gold could make you as much as £13.52, as of late October. If your family has a larger quantity of gold, with a higher purity, the potential gains could be even greater.
Check out our Gold Calculator, to see what could be made by selling scrap gold today. All you need is the weight and an approximation of the item’s carat or purity.
Preparing to sell scrap gold, but unsure about who to turn to? Scrap Gold UK is happy to help you realise the true value of your scrap gold items. Whether it’s gold fillings, rings or a family heirloom that’s just sitting around, gathering dust, it’s worth taking a look to see what it’s worth.
If you wish to talk to us before making a potential sale, or better still, wish to meet us in person at our offices in Wolverhampton, make sure to book an appointment. You can also reach us by email and telephone, through the address and number listed below. We look forward to helping you with your enquiry.
Tel: 01902 828 400 (local call rate)
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