In what has been described as the worst economic downturn of the last 50 years, one product has shone more brightly than many others. Gold has
not only retained its value but, even in the face of a global recession, it has seen a steady increase in its market value.
For families across the world, this has been a glimmer of good news in a sea of financial misery, as many consumers have at least one piece of gold in their homes, giving them access to funds that might previously have remained untapped.
All that glitters
Unlike stocks and shares, gold has an intrinsic value. As shown by the recent banking crisis, currencies such as the Pound Sterling can depreciate in value, being tied directly into the strength of the UK economy.
Commodities such as stocks and shares are also comparatively less stable; during a recession, stocks and shares will lose their value as companies become less profitable. This encourages investors to branch out into the? speculative buying of gold as they diversify into ventures that have far less risks attached and a greater degree of stability which will lead to a better profit margin, no matter what the global markets are doing.
For the consumer, the economic downturn and the greater demand for gold
means that the old, unused gold that they have is increasing in value and at a rate that is far beyond the interest rates set by the Bank of England. While it could be seen as ironic that during times when families are hardest hit financially, there are items in their possession that are increasing in value, it also explains the increasing numbers of consumers who have decided to make their gold work for them and sell it online.
A new marketplace
Old jewellery and other items of gold are now sought after products. The dawn of the Internet has made selling gold online much easier and safer than taking it to a traditional high street shop. Because the overheads for online gold dealers are much lower, it also means that they are in a better position to offer favourable prices than those offered by a shop owner who has to account for his ground rent and other business overheads.
As a result of this situation, there are now a growing number of online
gold dealers looking for old and unwanted gold. To take advantage of the price of gold, there are a few things worth researching before you commit to sell. It is important that the company you use has a genuine contact number and address; you may even want to give them a ring to ensure that they are legitimate.
It is better to deal with a company that has an online gold calculator, so that you get a good idea of what you might expect to receive. Only deal with companies that provide a fully insured envelope with which to send your items. Ask how long before they will issue a cheque or if they undertake online banking.
Many companies with good reputations have celebrities associated with
them, such as www.postgoldforcash.com, which is fronted by Ann Diamond.
Celebrities do not want to have their names tarnished by unscrupulous
companies, so it’s more likely that a company with a celebrity figurehead is more reputable. Other companies, such as www.monsterpriceforgold.com, rely on word of mouth, meaning they have fewer advertising costs and are able to offer premium prices for gold.
However, it is also worth investigating newer companies such as
www.goldbuyerman.com. These companies are looking to establish a good
reputation so are very particular about their level of customer care and
offer good prices.
With the recession keeping the price of gold at its highest for many
years, many consumers could be sitting on capital that will remain idle
until they decide to release and use its potential value. Selling your unwanted gold is a good way to bring in some extra capital during this time of economic
uncertainty.