The price of gold has rebounded from its lowest point since August 2010 and clocked in at US$1255.70 an ounce on Monday. Gold prices started plummeting at the beginning of April from US$1600 to less than US$1200 an ounce at the end of financial year last week.
It was the first time in almost three years that gold prices have dropped below US$1200 and the comeback on Monday puts an end to the free fall that has affected the market for over three months.
More noticeably, the increase in gold prices also signifies the resurgence in gold trading. Gold buyers who have taken advantage of the recent market drop stand to benefit from the rising price of gold as they will gain a higher profit margin if they are selling now.
In comparison to early April, gold buyers are able to offer sellers a better price per ounce now that market value has risen again. Gold analysts have speculated that this would be a good time for consumers to sell gold and gain a higher return on investment.
There are Sydney gold traders who offer favourable prices for gold, but a report published by the Telegraph shows that not all gold buyers necessarily offer the same value for money on gold jewellery and coins.
The Telegraph’s Public Defender conducted a secret research on various gold traders in Sydney, and they discovered that all of them offered varying prices to consumers who sell gold for cash. Out of 5 jewellery and gold buyers in Sydney who were involed in the research, Public Defender discovered that there was a $450 differential between the lowest to the highest offer.
It was revealed that Sydney Gold Traders pays the highest cash for gold than any other buyer, with offers reaching as high as 90% of its market value. In comparison, other gold buyers in Sydney only offered a meagre 30 to 50% of the market value.
Public Defender also stated that Sydney Gold Traders “weighed the [gold jewellery] using sophisticated gold karat analysis technology”, in reference to the XRF precious metal analyser. The machine allows for more precise analysis on gold and its true value, which allows Sydney Gold Traders to offer the highest payments on cash for gold.
When asked about why Sydney Gold Traders can offer higher prices than other buyers, regional manager Jerry Zheng said, “Some buyers do business by increasing their profit margin. We look for ways to get repeat business.”
The recovery of gold prices after a short 3-month span proves that it is one of the most sustainable investment options available, and this would be a suitable time for consumers to sell gold for cash. Couple this factor with high offers from established gold buyers such as Sydney Gold Traders, consumers will see a significant profit on their investments in gold.
Sydney Gold Traders
We understand that people have gold but not everyone knows their gold’s current value. To help you know exactly what the true value of your gold is, we have decided to run our business in an open and honest way, and we make the experience of selling gold simple and easy. We will show you how your gold is evaluated and let you to decide if you would like to sell the gold.
What makes The Sydney Gold Traders different from other gold buyers is that we truly offer the highest payout and have a high commitment to customer happiness.
Sydney Gold Traders
P: 02 8011 1117