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.
