Gold rushes are no longer consigned to the history books. 2020 is a year of repeated record highs for the yellow metal, with gold surging above the major price level of £1,500 for the first time this summer. Supply of gold is tightening as investors increase holdings to protect their money in the event of market turbulence, helping maintain an effective price floor for gold moving forward.
This period of exceptionally high gold prices is triggering people to realise the gains of what little gold that remains in the world, making 2020 an ideal time to consider selling gold. The turbulence caused by COVID-19 and the lockdown that has ensued has triggered a once-in-a-lifetime rally in precious metals, so let’s see how people are making the most of it.
Australia played host to one of history’s greatest gold rushes in the 1860s, so it’s no surprise to see the news that two men uncovered sizable nuggets of gold near the town of Tarnagulla in central Victoria, Australia back in August. Victoria is renowned for its vast gold fields which were discovered back in the 1850s, with acres of so-called virgin territory, just waiting for eager miners to find fresh seams of gold.
In scenes broadcast on UK and Australian television, the two men found nuggets with a combined weight of 3.5kg. On paper, such a vast amount of gold could easily earn as much as A$350,000 when the nuggets come to be sold. Despite their mottled appearance, the two nuggets found in Australia last month reflect the lasting value of gold itself. Few precious metals can boast such a high valuation for their relative size.
This just goes to show how gold can come in all shapes and sizes, and still yield a large sum of money. The only question is, who do you turn to, if you have gold and wish to sell, but you want to receive the right price for it?
Scrap Gold UK is here to help.
The 2020 gold rush has been breath-taking for us to watch at Scrap Gold UK. A troy ounce of gold used to be worth £700 back in 2015, so seeing the price of gold now hitting £1,500 in 2020 has blown all expectations out of the water.
If you have any scrap gold lying around, you could be sitting on a literal fortune, based on the last five years’ worth of price increases for gold. Scrap Gold UK is the ideal buyer to turn to, in order to facilitate a swift and secure sale of scrap gold in 2020, as we are specialists in this field, having done so for many years.
As of late September 2020, just one gram of 9-carat gold could yield as much as £16.99, if you sold your item with Scrap Gold UK today. Why wait? If you have an item you wish to sell today, don’t hesitate to contact us. Call us on 01902 828 400 or contact us here to make a golden dividend with your scrap gold.
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