Are you looking to sell your Gold in Philadelphia? Pawn Shop Philadelphia is a trustworthy, family-owned business running for over 20 years. Whether you’re looking to buy, sell or get a loan against your valuable Gold, we’re the best place in Philadelphia! We are located on Philadelphia’s Jeweler’s Row in the heart of the city.
Text Us Photos of Your Gold for an Immediate Price Quote
Gold prices are currently at their highest levels since 2013. If you have old gold jewelry or gold bullion, selling it can be a great way to get cash fast, come and take advantage of today’s high gold price.
How Much is my Gold Worth Today?
Gold prices typically increase as the value of the stock market declines, putting them at recent record highs because of the recent drop in the value of most stock indices. Also, world events can have an effect on the price of gold. For example, CNBC reported on an increase in Covid-19 cases in China and stated ” if China’s COVID situation escalates quickly, it would be positive for the gold market.” meaning the prices of gold would be rising.
Many people have gold around the house, in the form of old jewelry, old gold coins, or gold bullion purchased as an investment. With gold at such a high price, now is a great time to sell your gold and collect some cash.
Although the process of selling gold might seem confusing, Pawn Shop Philadelphia makes the process very easy; we are reliable, trustworthy buyers that will give you a great price for your gold jewelry, coins, or other types of gold instantly. Just text us (267) 687-2640 a picture of your gold or walk into our shop.
How Does Gold Prices Work
Gold is perhaps one of the most consistently valuable metals that we use today. The metal’s conception is an incredibly rare and dramatic event. This makes it a scarce commodity in the universe as well as on Earth.
Gold is priced based on its weight, normally the price is provided for one gram, one ounce, and one kilogram of pure gold. Just like the other commodities, the price of gold changes often. Unless otherwise stated, the price of gold refers to 24k gold, or “pure” gold, which consists of 99.99% pure gold. Pure 24k gold has an intense orange color and is very soft and malleable. It’s the type of gold that’s used for investment-grade coins and gold bars (known as bullion). Since it’s soft and bright in color, 24k gold isn’t used for jewelry. Gold such as 10k, 14k, and 18k are commonly used for rings, earrings, bracelets, watches, and other gold jewelry.
What Does the “Spot Price” of Gold Mean?
If you’ve ever visited a gold price or gold buying website, you’ve probably seen the term “gold spot price” thrown around. The term “spot price” refers to the price at which pure gold can be bought or sold at that specific moment.
The spot price of gold will often differ from the price of gold when sold or bought. In simple terms, the spot price is the market’s current price for gold right now, and the most important price that you should pay attention to if you’re looking to sell. Gold is a popular commodity that’s traded worldwide, the spot price of gold can vary based on the current level of demand for gold futures.
Why You Won’t Get Exactly the Spot Price When You Sell Gold
All businesses that buy gold in small quantities will buy it for less than the current spot price, so you won’t get exactly what the gold is worth when you sell it. This is simply a reality of business. All businesses have expenses, and the companies buying gold need to be able to make a profit in order to stay in business. Like the cost of melting and refining your gold jewelry so that it can be reused and resold.
The amount you’ll lose compared to the spot price depends on the type of gold you’re selling and the merchant you sell it to.
When is the Best Time to Sell Gold?
The best time to sell gold is when the spot price of gold is high and you’re comfortable with the idea of selling your gold coins, jewelry, bullion or other gold items. Also when you need cash immediately.
Gold, and other commodities, constantly fluctuate in value. Like the stock market, working out whether the price of gold will increase or decrease isn’t easy, and “beating the market” for gold is something that even the savviest investors struggle to do consistently.
If you have a significant amount of gold and want to sell at the best possible time, you can use gold forecasts and analyses to stay on top of market trends. These can offer useful information on gold prices, but like anything else market-related, their predictions aren’t always perfect.
Because of this, it’s best to sell gold when you need cash, and when you feel that the price of gold is at a high enough point for you to justify parting with your gold items.
Given these points, save yourself the trouble of finding other gold buyers. We are the fastest, most secure option to sell or pawn your Gold or Gold jewelry! Sell Your Gold today.
Our phone number is 267-687- 2640. We are here to help answer your questions, call us!
You are welcome to visit us, our address is 136 S 8th St A, Philadelphia, PA
If you have any other items to sell, visit the link below.