Buy, sell gold jewellery for maximum profit: Expert tips, strategies
Thu Mar 06 2025
When Sarah decided to sell her old gold bangles, she expected a decent return, considering gold prices were soaring. But when the jeweller offered her a fraction of what she anticipated, she realised there was more to buying and selling gold jewellery for profit than just timing the market.
Gold has always been considered a safe haven for investors, especially during economic downturns. When currencies fluctuate, gold prices often rise, making it a potentially lucrative asset. However, turning your gold jewellery into profit requires strategy and know-how.
How to buy gold jewellery at the right price
The secret to profiting from gold jewellery starts with buying at the right price. Gold prices can be volatile, swinging up or down in a matter of days or even hours. To capitalise on this, track gold price trends and aim to buy during dips. Websites and financial apps that provide real-time gold prices can help you spot the best buying opportunities.
When shopping for gold jewellery, always check the hallmark, a small stamp that verifies the purity of the gold. Gold purity is measured in karats, with 24-karat being pure gold. Lower karat jewellery (like 18-karat) contains a mix of other metals, which can affect resale value.
Source: https://gulfnews.com/