What comes to mind when you think of gold? Jewellery? A medal? The gold bars you see in movies? Whatever you think of, the truth is gold is everywhere.

Gold is one of the most versatile metals around and is used in anything from jewellery and decoration, to medicine and electronics; which is why it has so much value.

The value of gold hit an all-time high in July with the uncertainties wrought by the global pandemic and prices continue to remain buoyant. David Byrne, our resident gold and jewellery expert, notes what a fantastic time it is to sell. He said: "The price of gold reached an all-time high this year."

Our auctioneers at The Octagon Salerooms have seen an incredible few months, with gold items being among the most popular in the virtual saleroom. In a recent sale, many of our gold jewellery lots were sold for their full estimate or above. One particular item, a gold oval gem set ring with a 1.25 carat diamond was bought for £2,345.

So why is gold doing so well this year?

In times of economic uncertainty such as now, gold is a tangible, easily tradable commodity with a residual value whatever the condition. In good times and bad gold always appeals and is regarded as a reliable “currency” across the globe.

It is universal. It can be cashed in quickly and easily, whereas stocks and shares can be convoluted, tied-up and difficult to access.

Interested in finding out the value of your gold items? Get in touch with David Byrne at the Saleroom on 01823 332525.