How to sell Gold:
London gold centre is a leading gold buyer to sell gold. The steps to sell your gold:
- Estimate your gold quality
- Calculate the weight of the gold items you want to sell
- Get your gold tested to confirm the carat amount
- Get a price for the gold you are selling
- Finalise the transaction and sell your gold
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Why is now the right time to sell gold?
Over thousands of years, people have been fascinated by precious metals and jewellery. Gold has always been the object of people’s affection. It is truly embedded in today’s world culture, from movies to jewellery stores you can find gold pretty much anywhere.
It’s also considered as a valuable asset that is used in many areas and industries. Indeed, gold has other purposes than just for its beauty, many use it in the field of dentistry, medicine and even aerospace. This showcases how important gold remains in our current society. However, many feel reluctant to invest or sell their gold. That’s why we are going to highlight a few reasons as to why today is the best time for you to sell gold.
Reason to sell gold now with us?
Current studies and data have shown that there’s an increasing demand in the field of gold. In fact, more and more people want to invest in getting as much gold as possible. Even powerful countries such as China, India and also Russia have decided to invest in gold.
Numbers show that China has increased their reserves of gold of around 11.3 tonnes making them the biggest consumer of gold on the planet. Of course, competition between the different nations remains tough and intense.
Rise and Fall of Gold:
Studies also show a future trend that gold will continue to rise with the upcoming year. Indeed, it’s not going to slow down anytime soon and this shows how healthy and stable the current global gold market truly is. The globe currently consumes over 4.350 tonnes of gold each year since the beginning of 2015.
The overall global consumption has remained stable for the last few years. Moreover, the price of gold has remained quite stable except in 2019 where it has slightly increased. The gold market has also been perceived as a safe and somewhat secure investment as people would always want to acquire this metal. However, looking into the current state of the market, it seems like now would be the perfect time for anyone wanting to sell gold.
Everyone is aware that the global geopolitical environment remains quite unstable. This is due to the many difference of opinions between countries as regards to economic and political issues. It’s no surprise that the decisions and actions of governments have repercussions on the global economy. Let’s take the example of Brexit.
It has been the subject of various debates and discussions. The results of this controversial decision have influenced the value of the pound, the investment market in the UK and many other European markets. Even the EU is currently having financial difficulties with the Euro not doing as well as it should.
Effect on Gold:
However, the value of gold has not suffered from this. In fact, the value of gold especially in the UK, has been doing very well and even increasing. Over the course of the last 6 months, the price of gold in the UK has increased by around 4.7%. Of course, this is an approximation as in some periods the value of gold can fluctuate and lose a bit of value.
This shows that the upside of this everlasting Brexit situation is that the gold market has been able to rise and peek people’s attention and desire to invest in it. That’s why there’s no better time than to sell gold now.
Gold: The most trusted investment and asset
Like I mentioned before, many people perceive investing in the gold market as a safe investment move. Indeed, it has never been seen as a very risky choice to invest in this type of metal as its value doesn’t drop drastically like other currencies. You could say it’s less vulnerable to the instability of the market than other monetary currencies.
There’s something else that is very interesting about gold. People have a sentimental attachment to gold. Therefore, in some cases, rational thinking isn’t the reason why people want to buy gold. It can be perceived as a special and unique item. Hence people can become very attached to the piece of jewellery.
Some even feel nostalgic and it has symbolic meaning behind it, like it was for many ancient cultures such as the Aztecs or the Egyptians. This shows the power and influence gold has on people and in our society. This makes it easier to find a buyer who will want to buy your gold. Moreover, it’s never been as easy as today to sell gold.
In some countries, you have specific districts that are specialised in this type of activity. For example, you have Hatton Garden in London. If you live in London and want to sell gold, Hatton Garden is the place for you. There are so many shops, websites, companies that can provide you with the appropriate resources to sell gold efficiently, quickly at a good price.
Sell Gold: London Gold Centre
Human fascination with the metals is as old as recorded history but there are very few precious metals that have managed to became a symbol of glamour and royalty. Gold is one of the few precious metals which is not only the symbol of glamour and royalty but it has been obtained by every culture. Although it was mostly because of the rarity and beauty of the metal, but the brilliance and resistance of the metal helped him to become ideal jewellery making commodity.
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Frequently asked Question:
- Best place to sell gold in London?
Trading or selling gold can be a task but with a reliable trader, the process can become effortless and safe. London Gold Centre is the place where you can sell your gold without worrying about getting underpaid. As we are the highest price paid traders in the industry, you will get a competitive price. Not only this but you can also claim your items back if you are not satisfied with the amount paid to you.
- What is the Hallmark for 9k gold?
The British Hallmark for 9k Gold is 375
- How to Calculate the price of 9k gold?
9k Gold Price = (Ounce price / 31.1035) * 0.375
- What is the Hallmark for 14k gold?
The British Hallmark for 14k Gold is 585
- How to Calculate the price of 14k gold?
14k Gold Price = (Ounce price / 31.1035) * 0.585
- What is the Hallmark for 18k gold?
The British Hallmark for 18k Gold is 750
- How to Calculate the price of 14k gold?
18k Gold Price = (Ounce price / 31.1035) * 0.750
- What is the Hallmark for 22k gold?
The British Hallmark for 22k Gold is 916
- How to Calculate the price of 22k gold?
22k Gold Price = (Ounce price / 31.1035) * 0.916
- What is the Hallmark for 24k gold?
The British Hallmark for 24k Gold is 99.99
- How to Calculate the price of 24k gold?
24k Gold Price = (Ounce price / 31.1035) * 0.9999
- Do you have an online Gold Price Calculator?
Our Gold Price Calculator have live scrap prices
- Where can I Sell my Gold Coins?
- Where can I Sell my Gold Bars?
History of Gold:
The history of Gold goes way back to 3,000 B.C when human first interacted with this metal. Egypt is known to be the place where it was first discovered and Egyptians started to use it as a currency. Back then, one piece of gold was equal to two and a half part of silver. Not only this, but the Egyptians also used gold to produced maps.
Buying and selling gold has been a business for a very long time and not only Egyptians but many other nations have used Gold as currency. Even today, there are many nations that use gold as a medium of exchange in monetary transactions. The popularity of the metal kept increasing with time and the artisans started to use gold to decorate the tombs and temples. Today, this metal is used by people in the jewellery, electrical-electronic applications, dentistry, arts and even in the chemical fields.
It is very clear that gold has managed to achieve a status of symbol and because of that trading of gold has been a source of income for most of the traders. However, it is not that simple to jump right into the trading business of gold. It is very important to know the different types of gold and how their purity is calculated.
One of the major attractions of the gold is its incredible malleability. The one ounce of gold can be flattened thin enough to cover more than nine square meters and this level of malleability is used to measure the purity of this yellow metal. Usually, the higher carat cold is pliable and soft while the lower carat is hard and durable.
9 carat Gold:
The unit in which the purity of the gold is measured is carat and it can be defined as 1/24th part of the pure gold by weight. 9 carat of gold is basically an alloy of metals. It contains 37.5 percent of gold along with the different proportions of different metals that include silver, zinc and copper. Other metals in the alloy are added according to the required colour. For example, a reddish colour 8 carat gold will contain a high proportion of copper while on the other hand white colour gold will contain little to no copper.
With 37.5 percent of purity, nine carat gold is considered a durable and inexpensive type of gold. Because of its durability and price, 9 carat gold is the popular choice for those who are looking for jewellery on a budget. Although it lacks purity but it is affordable and makes it up with toughness.
14 carat Gold:
Next in the list is 14 carat of gold. As you already know that carat is the unit that is used to denote the purity of the gold and higher the carat, the pure will be the gold. 14 carats gold offer the best combination of durability and beauty. As compared to 9 carat, 14 carat is less likely to get dull or corrode and that is why it is a little expensive as well as compare to 9 carat gold. There is a very little difference in appearance between 18 and 14 carats of gold. However, 14 carats of gold offers a lot of appeal, aesthetic and durability.
18 carat gold:
18 carat gold is the third most purest form of the gold and yellow in 18 carats of gold is more rich and vivid as compared to 14 carats of gold. As this is one of the purest forms of gold available in the market, it is expensive and can be found in modern day jewellery. This type of gold is usually stamped with 750 but that is not the case with each and every piece of 18 carats gold.
Although, 18 carat gold is far less likely to tarnish as compared to 9 and 14 carat of gold but as a buyer you might have to compromise on the durability of the metal. Especially if you are planning to have a jewellery designed with 18 carats of gold then you have to be very careful as it can get scratches very easily.
22 carat gold:
Before moving to the purest form of the gold, let us introduce you the second most purest form of the gold. Because the purest form of the gold is of 24 carats, 22 carats simply implies that 22 parts of the jewellery amounts to the gold while the remaining two amounts to some other metals. To be very precise, out of 100 percent, 91.67 percent of the metal is gold and the other 8.33 percent comprises metals that include nickel, silver, zinc and some other alloys. Although, this is the second most purest form of the gold, but it is still not preferable for the heavily studded jewellery such as diamonds.
24 carat gold:
This is the purest form of the gold that you can possibly found on the planet earth. All the 24 parts of the metal consist of gold and there will be hardly any traces of other metals. The 99.9 percent pure form of the gold has a distinct bright yellow colour. This form of the gold is less dense which makes it soft and pliable. Therefore, it is not preferred for the regular forms of jewellery. However, you may find older currencies in the form of coins that are comprised of pure 24k gold.
How to calculate the purity of the gold you are selling?
Calculating the purity of the gold can be a very difficult task, especially if you are very new to this sort of market. The fineness of the gold can be calculated by a simple formula that is used in West. Basically, 24 k gold is expressed as 1000 parts out of 1000. So the fineness of the 22k gold can be calculated by dividing 22 with 24 and then multiply it with 1000. This will give you the exact amount of the gold present in the metal. The rest can be calculated with the same formula. However, you are required to divide the right amount of gold with the total.
Colour can also help you as well to identify the purity of the gold. 24 k gold has a natural warm colour of gold. Other colours of gold can also be found as the colour can be changed by changing the composition of the alloy. Some common colours that you will see in the market include rose gold, green gold and white gold.
How to calculate the price?
The price of the gold can vary depending upon the gold rate in the market, However, it can be calculated very easily, if you managed to calculate the purity of the gold. Once you are sure about the quantity of the gold used in the jewellery, you will be able to calculate the exact amount as well.
What is Sovereign and its price?
Without any further due, we would like to bring your attention to Sovereign which is a gold coin in UK. It is basically a coin that has been circulating since 1817 and can be accepted any where in the world. You will also find sovereign rings these days that basically has a gold sovereign as a primary decorative feature. One thing that you are required to do is to examine whether the coin is the genuine sovereign or a replica. To calculate the price of the sovereign you are required to multiply the decimal with the current price of the gold. For example, if the price of the gold is 1200 dollars then the sovereign will worth (0.2354 x 1200) dollars. 0.2354 is basically the weight of the sovereign. The price, however, can deflect from the actual amount depending upon the rarity of the sovereign.
What is Krugerrand and its price?
Krugerrand is another type of gold coin and to be specific about the region it was originated from South Africa. Once ounce of gold in Krugerrand is 91.67 percent pure and we have already described in detail how you can calculate the price of the gold once you know the purity. The history of this coin goes back to 1970s as well which means that it is one of the rarest coins available and that’s why the amount of the Krugerrand can vary. This is a coin with legal tender status which means that you can trade the coin without any sort of problems.
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