Gold is now a good time to sell?

rustywallet

Sorry if this is in the wrong place, I couldn't find a catagory that fitted...

I have some scrap 18ct gold to sell 30g. I'm hoping to fund a course with the money.

Is now a good time to sell, or shall I wait a week or two? I tried to look up the gold prices, which looked on the down - but it went over my head!

Thanks for you help.

jebervic

rustywallet wrote: »

Sorry if this is in the wrong place, I couldn't find a catagory that fitted...

I have some scrap 18ct gold to sell 30g. I'm hoping to fund a course with the money.

Is now a good time to sell, or shall I wait a week or two? I tried to look up the gold prices, which looked on the down - but it went over my head!

Thanks for you help.

Personally I would wait, gold will be going higher in my opinion

rustywallet

thanks. does anyone know how i can keep my eye on the prices? I want to sell soon as i need the extra money for my course.

jebervic

rustywallet wrote: »

thanks. does anyone know how i can keep my eye on the prices? I want to sell soon as i need the extra money for my course.

Try this

http://www.kitco.com/charts/livegold.html

jon3001

rustywallet wrote: »

Is now a good time to sell, or shall I wait a week or two?

As with many volatile assets, there's no way of knowing if the price will be higher or lower in a week or two.

If this is money you need in the short term (less than 5 years) it shouldn't be in volatile assets. If a sale now represents useful cash to you then sell.

rustywallet

Thanks Jon, you're right, I need the money so it's time to sell.

Also, hopefully the money spent my course (better job) will be a good investment!

I'm thinking of selling online, I've seen a couple of shops that you post the gold too registered post...

EalingSaver

Jon's advice is sound. No one on here can tell you whether the price will be higher or lower in 1 weeks, 2 weeks, 3 months time. If they could they wouldn't be on here but would have made their fortune already and be sitting on a beach somewhere.

What you can say is that the price of gold has been substantially boosted during the turmoil. So this is /probably/ a good period to sell what is a volatile asset; if you have a good use for the money, as you do, sell it. But then promise yourself you won't spend the next x weeks/months after you've sold monitoring the current price to see whether you sold at exactly the right time or not. That way lies insanity.

Can't comment about the selling on line bit. And I have no idea how much 30g of gold is worth. But registered post sounds a bit dodgy to me. If it is a substantial amount then I personally would want to transact it in person so that I get my money at the same time I hand it over.

opinions4u

$30 a gramme seems to ring a bell for "ingot value" - sure others can correct me.

Call that £18.

x 30

= £540

You've not got ingots. Who's going to buy?

Pawnshop?

£50 maybe?

Let us know if it is worth more!

rustywallet

I've got about 30g most of it 18ct. I've seen a tenner a gramme for 18ct and £5 for 9ct....