Are you thinking about the future and where you should be putting your money? There are various things that people might be trying to get you to buy into. Can’t decide if you should buy gold now or wait? It’s only rational to think of the assets that will help you get the best cash. Timing is crucial. When will you get the best price for your gold jewelry, now or later?
To get an answer to that question you need to look back at the history of gold price movements.
The trend that the price of gold has shown over the last couple of decades is that it will surge during the beginning of the year and then the price will cool down in spring and summer and then fall off again in autumn. This means the price of gold is usually at its highest from January to April and then again from June to early July. There are instances where this had not been the case.
When is the best month to buy gold?
Since the mid-70, the price of gold seems to drop the most in March which means for years, most gold jewelry buyers would make means to acquire gold then. For ordinary people who want to sell their old and used jewelry, March wouldn’t be the best time to sell gold jewelry as prices are expected to be low. This however isn’t always the case as gold tends to be impacted by various factors like a weakening economy, inflation, recession, geopolitical tensions, wars, and just about every other problem that affects commodity markets. Many analysts try to predict where the price of gold will go but sometimes the unexpected happens and markets are thrown into chaos.
Instead of looking at one specific month, it is best to study the markets over a couple of months or break the year up into quarters. Historically, the first quarter of the year is generally weaker than the second and the price of gold strengthens between July and September.
Unlike a lot of other commodities that are traded on the market, gold is usually considered more of long-term investment but most investors will have a plan of when they will want to sell their gold. With gold jewelry, on the other hand, people sell gold jewelry more for personal reasons or for economic emergencies. Your gold jewelry is a ready source of cash that you can rely on should the need arise. Since personal issues or economic emergencies can happen at any time, one should not look at the seasonality of the gold market when they are thinking of selling their gold but rather consider their immediate needs and how their gold jewelry might be able to meet them.
The bottom line is that gold like other commodities or assets, gold prices can bubble and if that happens you might want to consider selling your gold jewelry to get a big profit. The important thing that anyone who is looking to sell their gold can do is to watch the market price and to shop their gold around to get the best price possible when they decide to sell whatever gold jewelry they have.