It would be an understatement to say 2020 has been a good year for gold. Prices in pound sterling terms hit an all-time high of £1,500 in the summer, having more than doubled in just five years. We’re in something of a new gold rush, and this chimes with news coming out of Australia, where two lucky men made the discovery of a lifetime.
In the heart of central Victoria, Australia, two men discovered a pair of gold nuggets no larger than the typical smartphone. Weighing a total of 3.5kg, the two nuggets have been valued at an estimated A$350,000, or enough to make a sizable fortune for each.
Let’s explore why 2020 could be a new gold rush, and why it might be an opportune time to sell scrap gold.
Support for higher prices for now
With many countries still enforcing restrictions due to the varying ways COVID-19 has spread, many investors are in a firm risk-off attitude. In addition, policy makers have employed an enormous volume of fiscal and monetary stimulus to stop the global economy sliding into a deep recession. All this money has to go somewhere eventually, and in the past, this kind of approach has boosted precious metal prices.
This places gold at a significant advantage over other assets, and supports the prospect for great gains to be made, if you have scrap gold you wish to sell in the coming months. At Cash for Your Gold, we’ve been tracking live spot gold prices daily, and our latest estimates for September 2020 mean that just one ounce of gold with a purity of 9-carat could pocket you over £525.
It doesn’t take a lot of imagination to wonder how much you could make if you have an item that weighs more with an even higher purity. The longer that the risk-off market psychology remains in place, the more likely it is that high prices for gold can be maintained. This offers you a COVID-19 dividend to take advantage of, while this premium remains.
Why sell with Cash for Your Gold
Cash for Your Gold is the buyer to turn to, if you have scrap gold you wish to sell in 2020. Prices are high, so there are great gains to be had. We are gold specialists, having facilitated thousands of sales over the years, so funds can be released swiftly, as you would expect.
To complete a sale, you simply need to fill in a form secured with an SSL certificate, which ensures that sensitive transaction information is kept private and only seen by those who need to see it. Sell gold with Cash for Your Gold today, and make the most of the great 2020 gold rush.
Despite lockdown, we have continued helping customers make secure sales of gold online. If you would like to get in touch you can call us on 01902 623 253, or simply contact us here.