It should come as no surprise that among any of the objects you own at home, some of the most valuable are those made of gold. Another fortunate benefit of gold items is that, unlike some of the more expensive possessions you might own (such as stereo equipment or designer clothing), anything made of gold is always easy to sell.
Declutter for Big Earnings
Consequently, if you’re looking for a way to make some extra cash quickly while also decluttering your home, you can sell anything you own that’s made of gold reasonably easily and quickly earn some cold hard cash in your pocket to spend on whatever you desire.
The History of Gold as an Investment
Given these excellent benefits, you may wonder whether there’s any downside to owning gold or buying gold as an investment. After all, gold has a long history of both being valuable and easy to sell. For thousands of years of human history, few things were more worthy of investment.
Is There Any Downside?
There isn’t any downside to selling your gold when you need to earn extra money. The only issue you should consider, given that the price of gold changes through the year, is whether you’re selling your gold at the best time. Given that the new year has only recently arrived, January is an excellent time to think about the best time to sell gold.
How to Tell When to Sell Your Gold
Any time you’re considering cashing in on a commodity that fluctuates in value, the best thing to do is to check the recent history of its price to see whether it is an excellent time to sell. While no two years will ever be identical regarding the value of a commodity with a varying price, like gold, you can watch for trends to help you predict when to sell. To get the best cash for gold, you must pay attention throughout the year.
For example, historically, the price of gold tends to drop in the second week of January, so you probably don’t want to sell your gold right away. You’ll be better off remembering that this is a good time of year to buy gold if you’re interested in investing.
That said, it’s never a bad time to sell gold when the price is higher than usual, which is the case right now. So, if you need money fast, you can find a gold buyer without much cause for regret.
Long Term Considerations
Along with yearly trends, you can benefit from knowing longer-term trends so you’ll always be able to identify the best time to sell your gold. Given that gold has a reputation as an inflation hedge because its value tends to stay high even during a period of economic downturn, people tend to buy more gold during a recession. Consequently, the value of gold tends to increase when a recession hits. Given that many are predicting a recession in 2023, you might want to keep a close eye on the prices.
Knowing the best time to sell your gold can help you to get a great price when it comes time to sell. You should also find a buyer you can trust so you’re ready to sell when the time is right. Talk to a gold buyer today to learn more.