Recent movement in the markets have caught some by surprise. Technically we are in the summer doldrums for gold prices and as gold buyers we have seen many customers pleasantly surprised by the recent strength in rates.
Again it appears that concerns around the European Union and in particular the downgrade by Moody’s of Portugal’s credit rating to junk has seen markets respond by moving to investments seen as safe (or safer than government bonds). The New Zealand dollar also responded to the earthquake by moving down against the United States dollar – yet has bounced back to record high levels.
When selling gold it’s naturally a benefit to have higher prices because you get more from your items. This can be hard to time perfectly however as markets move quickly and as the common saying goes, “Bulls move up the stairs and bears go out the window”! The ideal timing really depends on what works for you and the benefit of the cash instead of unwanted jewellery.
The diversity of uses for “gold capital” is always something we find interesting and enjoyable to see the benefits Gold Smart is creating.