In recent weeks, several of our main Scrap Gold buying competitors have entered into a bidding war, each trying to out-do the others with their advertised ‘offer price’.
Some companies have extended their advertised price beyond believable – They are, in some cases claiming to pay more than the actual live gold price! Others are claiming to pay prices so high that they cannot be making any profit once the metals have been processed and refined!
It is important to consider that as a Scrap Gold Buyer we are constrained by several factors in the prices we can offer customers, we carefully consider and update our scrap gold prices twice daily. We base our pricing on the daily London Gold Fix Price; we then calculate our costs of processing and refine the gold before deciding what price to offer our customers.
On Thursday 7th July 2011 at 1:30pm the live price was £11.54 per gram for 9 carat gold – We were buying at just 4% below the true price of gold, paying customers £11.07 per gram for 9 carat gold. Don’t forget, in that 4% we have to process and refine the gold – before we make any profit!
We have contacted several companies recently to query the price advertised on their web sites, none of them were willing to confirm the price verbally by phone.
Ever wonder why Scrap Gold UK never appears on any of our competitors \'Price Comparison\' charts? Because they can’t compete with our honest pricing!
Scrap Gold UK will continue to offer an honest and competitive price to each and every customer. Our advertised prices are clearly visible on our web site – We guarantee that our customers will ALWAYS receive the full genuine price for their gold as advertised on the web site on the day we receive your package.