When Is The Best Time To Sell Gold & Silver?

The prices of gold and silver are notorious for changing often and quickly. Prices could be up one day and down the next; the amount of fluctuation can also vary. The good news is that gold is known to be one of the most stable commodities; it’s widely considered to be a safe investment even if the market is fluctuating wildly. If you invest in gold or silver when the price is low, you can expect a marginal return in a few weeks or months. If you have gold or silver jewelry to sell, timing your sell strategically will ensure that you get the best deal.

How to Tell Whether It’s a Good Time to Sell

During “average” times, the price of gold and other precious metals tends to rise when the value of the dollar falls. This is why gold is seen as a stable investment; you can count on it to have value even during times of economic uncertainty. In moments of economic downturn, investors flock to purchase gold and other precious metals, increasing demand and driving the price up. The best way to predict a rise in gold prices is when the Federal Reserve prints more money. An increased supply of cash means that each dollar is worth less – this means it will take more dollars to equal one ounce of gold. The most recent large spikes in the prices of gold and silver have occurred during peak times of extreme economic uncertainty. Savvy investors also keep an eye on real interest rates and the Dow-gold ratio – the lower these figures are, the more likely you are to get a great price for your gold or silver.

Unprecedented Times

Right now, in 2020, we are living in unprecedented times of economic uncertainty. Between a global pandemic and social upheaval, many people are finding themselves out of work or dealing with unforeseen expenses. It is also becoming more difficult to obtain real estate loans, as competitive markets drive home prices higher and higher. In times like these, it is good to have a commodity to sell that has universal appeal, such as a precious metal. While the prices of gold and silver likely will continue to climb, it may be a good time to sell if you need the money to cover living expenses or make a down payment on a house.

Bottom Line: When is the Best Time to Sell?

When it comes down to it, the best time to sell your gold or silver jewelry is when you need the money. Whether you need extra cash or you have a plan for the money, acquiring cash for your gold will allow you to reinvest it for a potentially higher return. Because it can be so difficult to accurately gauge the price you’ll get for your gold, the most prudent course of action is simply to wait to sell until you need extra cash on hand. Choose a reputable gold buyer when you sell so you can be sure you are getting the proper market value for your gold or silver. Sol’s Jewelry & Loan is an experienced and knowledgeable gold buyer that will always offer you a fair deal. Visit our Omaha, NE location today to sell your gold or silver coins, jewelry, or investment-grade bullion products!