Looking to sell your gold? You’re in luck – we offer a competitive price of gold items to match both the demand for gold and the live gold price being offered throughout the UK.
Investing in gold has always been a wise decision. The precious metal prices can fluctuate but the demand for gold remains high. According to Gold.co.uk, there has been a 27.97% increase in the price of gold when comparing October 2019 to October 2020, with the price per gram peaking at £50.62 in August last year.
Why is the price of gold always changing?
Quite simply, it’s all due to supply and demand. What’s the need for gold at that moment, is there a sense of economic and/or political uncertainty, how are the inflation and interest rates looking at that time? If you’re looking to sell, take note of those factors.
There are three different price sets when you’re selling gold, the spot price, fixed price and the future contract price.
In the UK, the spot price reflects the price currently set by the market. Essentially meaning you get the live gold price.
The fixed price is set by the LBMA (London Bullion Market Association) or Comex twice a day, once at 11am, and again at 3pm. The spot price provided tends to be an estimate, all depending on the fluctuation of gold prices at the time of purchase, but will reflect the UK price at those times.
Future Contract Price
Finally, the future contract price for gold is kind of what it says on the tin, it’s a price given for future purchasing. The buyer and the customer will agree a set price for a specified weight of gold, all to be sold at the same time.
How do I go about selling?
Well, there’s a few different gold selling options available now. Postal cash for gold services have been increasing in popularity over the years, so much so we even offer this service now ourselves, but it can, depending on the company you’re selling to, be a bit of a gamble. You’re offered a price relative to the market on selling day, but your items still need to be properly weighed and tested upon arrival at the gold exchange location. This could then decrease or increase the payment amount.
Many places, such as our location, offer a free valuation service, allowing customers to come in and have their items weighed and valued, checking the quality and clarity of the gold they’re looking to sell before providing a quote for the items to align with the UK price of gold at that moment.
Time to sell?
If you have any gold coins, bullion coins, gold jewellery or any other items made from the precious metal that you wish to sell for a competitive gold rate, get in touch with us at The Manchester Gold Exchange to receive a non-obligatory quote today.
We make sure that the gold rates we offer meet the live gold price across the UK, guaranteeing that our customers receive the best possible price of gold offer that our experts can offer.
Give us a call on 0161 273 2511 to receive an estimated quote over the phone or visit us for a face-to-face valuation at Victoria House, Great Ancoats Street, Manchester, M4 7DB.