In today’s uncertain economy, with rising inflation and instability in the markets, it makes it difficult to predict the next best steps to take. However, this could be the time to assess your gold jewellery for its potential and consider releasing its value. As with the global pandemic in 2020, it would appear that gold is holding up well.
Like almost every other market, there is movement on the gold market; however, the price of gold – according to the Royal Mint – is on an upward trajectory over the long term. With a current price of over £1,400 per ounce and a yearly high of £1,668, it is still performing solidly.
While the price is fluctuating to a certain degree, with a yearly low set at £1,275, it does not appear to be suffering – or likely to – anything like has been seen with the recent crash of cryptocurrency.
Worth Its Weight
While gold’s worth is measured by weight, that’s not always the end of the story when it comes to the value in your gold. Gold jewellery can be worth more as a stand-alone piece, especially when it comes from one of the world’s luxury brands, such as Bulgari, Cartier or Van Cleef and Arpels. Even Tiffany & Co., so well-known for its white gold and platinum staples, has stunning yellow gold pieces in several of their collections, including City HardWear and Elsa Peretti Bean.
While there has been a run-on turning gold into cash by selling it to be melted, the cost of the craftsmanship of jewellery should not be under estimated. Gold-loving Tyson Fury has recently expressed the desire to step in at auction with £25,000 to save a 9-inch crucifix, ‘Britain’s biggest’, from the melting pot.
Leveraging your gold’s value through a loan can help you unleash the potential of an asset that’s one of few performing well in the current market. However, unlike selling gold, you will be able to redeem the loan and continue to enjoy your pieces.
Following expert appraisal of your gold, funds could be in your account within 24 hours and your asset will be held in our secure storage for the duration of your loan.