Gold Value: Why is Gold so Valuable Right Now?
If you have been paying attention to the price of gold, then you are probably wondering why gold is so valuable right now? Well for starters, it has a lot to do with our current economic situation. Gold has a long-standing history of being valuable and highly sought after during economic downturns. Here are five reasons why gold is in high demand during times of uncertainty.
1. It’s Safe
Traditionally gold has been considered a safe haven for investors during a crisis or time of uncertainty. Given the current coronavirus pandemic, gold has continued to hold the title of a safe haven as more investors become anxious about financial stability. Gold typically performs well during economic downturns in large part because gold value remains constant while everything goes up.
2. It’s Stable
When something is safe it is also usually stable. This remains true for gold. The price of gold is not reliant on outside factors or currency and is typically shielded from inflation. In the long haul, gold is a stable investment because it isn’t as volatile as other currencies or investments.
3. Weaker US Currency
Whenever the US dollar depreciates, gold value increases. Due to the uncertainty of our current economic situation, assets like gold have become more attractive to investors. A weakening dollar makes gold cheaper which is what we are currently seeing.
4. Shorter Supply
As the saying goes, you always want what you can’t have. This also remains true for gold. Due to the worldwide pandemic, many gold mines have been forced to close creating a shorter supply of gold. Less supply and more demand have caused gold value to skyrocket.
5. Media Hype
The more the media talks about gold, the more desirable it becomes. When gold prices begin to rise financial media outlets begin to cover it more. This added exposure usually translates into higher investor interest thus sparking the demand even more.
What Should I expect when Selling my Gold Jewelry?
With gold in such high demand, now is the perfect time to turn your gold jewelry into cash. When selling gold jewelry it is extremely important to find a reputable buyer. There are many places to sell gold, but not all of them are created equal. It is important to research all selling options to ensure you receive the maximum amount for your gold jewelry. A reputable gold buyer should have high-level knowledge of the industry, be licensed, and have a proven track record of successful and transparent transactions.
What type of Gold can I sell?
Most gold buyers are looking for yellow gold, white gold, or rose gold jewelry and tend to pass on gold plated or costume jewelry. At Diamond Buyers, we buy a wide range of precious metals and gold including:
● Gold Bullion
● Gold Coins
● Gold Jewelry (rings, necklaces, earrings, bracelets, pendants, etc)
How to Sell Gold Jewelry for cash
Selling your gold jewelry to Diamond Buyers is easy:
Step 1: Tell us about your gold, silver or other precious metal. We will send you a preliminary offer.
Step 2: (Local) If you like our offer and you’re local, we would love to meet you personally and confirm the details you provided online. (Outside Houston area) If you aren’t local, we have a very secure mail-in process that ensures your valuables completely from the moment it leaves your doorstep, plus video surveillance in our shop.
Step 3: You get paid in full immediately via certified check or wire transfer. Your choice.
Why Trust Diamond Buyers to Sell your Gold Jewelry?
At Diamond Buyers, we have decades of experience buying and selling gold bullions, coins, jewelry, and other precious metals. Our staff consists of highly trained and GIA certified jewelry appraisers who are ready to evaluate your gold jewelry and offer a fair market price. We pride ourselves on our many transparent and reputable business transactions. We offer top-notch customer service and are willing to go the extra mile to make sure you end up leaving with the best offer available.