When the price goes up, you should get more money right? How do you predict the price of gold then?

The Price of Gold Rises When the Value of the Dollar Falls

It has been a long-standing truism that when the value of a dollar falls, the price of gold will rise. While this has been true for decades, this correlation has not been so predictable over the last year or two. Even when most experts are predicting a rise in gold price, it will fall just as easily. With current economic conditions – job loss, inflation, rising national debt, the gold price should be predictable, but it has not been that way.

The best way to predict a rise in gold price is when the Federal Reserve prints more money. An increased money supply means that each dollar will be worth less – meaning that it will take more dollars to equal an ounce of gold. But predicting these fluctuations is difficult, even for the experts that have dedicated their lives to trading.

The Current Price of Gold is Fairly Stable

The price for an ounce of gold has reached $1,000 recently, but it has not reached this level in the past few months even though the current economic climate says otherwise.

It is a safe bet to say that gold will remain between $900 and $1,000 for the immediate future. This means that when you sell your scrap gold, the cash you earn should not be too much different one week to the next. There is no point in waiting, especially if you need money now, unless you have significant amounts of gold to sell. If you have over an ounce, then analyzing the price changes will benefit you. But most people only sell scrap gold a few grams at a time.

Gold is a “Safe Haven”

Because the price of gold is so stable, it is seen as a “safe investment,” especially during times when the stock market fluctuates wildly. You could invest some money in gold when the price is low, and expect a marginal return in a few weeks or months. Generally, most stocks do not work like this so stock market investing is seen as “risky.”

Because of recent stock market conditions, many more people have invested in gold. The increased demand has raised the price of gold to the levels you see today.

So, When is the Best Time to Sell Gold?

As you can see, predicting the price of gold is not easy. Even the experts have trouble. Despite all of the ways you can predict how the price of gold will act, the last 12-18 months have shown that the gold price will do what it wants.

The best time to sell gold is when you need money! Whether it is right now, or next week, whenever you need money fast is the best time to sell scrap gold and jewelry. A $10 difference in the price of gold will not effect your cash for gold payout noticeably, so sell your gold when you need to!

There are practical reasons to sell gold jewelry but there are also sentimental reasons. No reason to sell your gold jewelry is better than another, but if more than one of the following sound like your situation, it’s probably a sign that now is the right time to sell.

1. Your Jewelry is Damaged and Broken

If you have earrings without mates, a brooch with a busted clasp, an old watch that doesn’t tell time, or a chain that is twisted and kinked, you may keep thinking to yourself, “Someday I’ll get this fixed.” If you haven’t done it by now, will it ever happen?

You’d be surprised at the price of jewelry repair these days. The careful dexterity required as well as the relative softness of gold jewelry means a large bill for getting the damage repaired. When you sell gold jewelry that is damaged and broken, you can use the extra money to buy sparkling new jewelry pieces that are brand new.

2. The Jewelry You Have is Out of Style

Most people have very selective taste in jewelry so finding a buyer for older, dated jewelry can be hard. It can be a tedious task to find a prospect for outdated jewelry and there is no guarantee you will every find interested customers.

Companies who buy scrap gold jewelry, however, are always ready to buy from you, and they don’t care about the condition or style of old jewelry. They won’t penalize you on the payment just because your jewelry is ugly and old!

3. It is a Hassle to Sell Gold Jewelry Piece by Piece.

Everyone thinks that their grandfather’s antique watch can be sold to a collector or someone who will cherish them. The hard reality is that it is very difficult to find the right buyer for antique jewelry, and even when you have found someone willing to buy they likely will not be attracted to all of your pieces. By splitting up your jewelry based on quality and selling only a few pieces to collectors, you’re cutting your work down. The less than desirable stuff can be sold to scrap gold buyers.

When you sell gold jewelry to a gold buyer who wants the gold for scrap, you can sell it all at once for a great price. All said and done, you’ll have money in hand and no more antique jewelry to worry about.

4. Your Gold Jewelry has Bad Memories

Still have that engagement ring from an old boyfriend who left you at the alter or gold rings from your ex-spouse? To sell gold jewelry that’s associated with unpleasant memories from your past can be very empowering. You will get something of value from the items you would otherwise forget. Don’t hold on to the bad memories. Get started with a new life with some money in your pocket.

There are as many reasons to sell gold jewelry for scrap as there are pieces of jewelry. If one of the above reasons is your own life, now is the right time to sell gold jewelry so you can move on with your life.

Use our Scrap Gold Calculator to get estimates on your old gold and jewelry before you sell!

You have the right to get the maximum amount of money when you sell your gold and jewelry. For some people, Cash4Gold is the best option because they buy jewelry and gold of any type. Broken necklaces, single earrings, dental gold, and the list goes on and on.

What if you have a piece of jewelry that you think is worth more than just the metal that makes it up? You use our scrap gold calculator and think you can get more money from a jewelry store for selling your jewelry.

But before you do, here’s what you need to know so you don’t get surprised!

You Can’t Trust Engraving

Skilled jewelers and special equipment can tell exactly what kind of metal makes up a piece of jewelry. Unfortunately what you think you have may not be what you have.

The engraving on jewelry denotes its karat, or gold purity level. Most countries have no laws requiring that engraving be accurate, and many do not require a 3rd party to verify jewelry’s gold content. It’s possible some jewelry is incorrectly stamped to misrepresent the quality for the seller to earn more money.

Scrap Gold Prices Do Not Reflect Retail Value

It’s easy to assume that when you sell to a gold buyer like Cash4Gold, you will get retail value for your jewelry and gold. Gold buyers only buy the intrinsic value of the metal that makes up the jewelry, not it’s quality or appeal.

Jewelry stores work on incredibly high margins, and can make up prices by 3-20x their actual worth. Even gold and jewelry bought on sale will still be far higher than the value of the metal. The situation is similar to buying a brand new car. As soon as you take it out of the store, the price of the car drops dramatically.

Jewelers Use Appraising as a Marketing Tool

If you take your gold and jewelry to a jeweler for appraisal, there is a good chance that the appraised value is for trade-in only. This means that they will not actually give you cash for it. They expect you to buy another item that is already marked up 3-20 times its actual value.

What is Cash4Gold?

Cash4Gold offers a service that lets you securely mail-in old, broken, and unwanted jewelry and gold pieces for money. The company started growing very quickly a few years ago when gold prices started reaching all-time highs.

How Cash4Gold Work?

Step 1: Request a Kit from Cash4Gold. This is a free service, and requires no personal information from you aside from your name and address.
Step 2: When the “Pak” arrives at your home, you insert and ship off the gold items you no longer need. The “Pak” is durable for holding your heavy items, so no need to worry about it getting damaged.
Step 3: Wait for payment. Cash4Gold will sort and process your scrap gold and jewelry to determine the value of your items. In less than a couple of days, you will receive payment by check. You also have the option of getting paid within 24 hours from the time they process your items if you attach a voided check for direct deposit.

Cash4Gold’s Commitment to Safety and Customer Satisfaction

Cash4Gold prides itself on safe and secure delivery of your gold items. Here are some facts directly from their website:

• Shipping Your Items Safely - The envelope send to your home for delivery is strong and durable. It is also generic so no one knows what the package contains. You are also able to track the Pak every step of the way online. Free insurance is provided for up to $100 via the post office, and you have the option of sending the package through any shipping company for more insurance.
• Arrival of Your Items - The shipments are picked up by a bonded armored truck and taken directly to the Cash4Gold facility. The post office provides a detailed report on the number of packs sent that is checked-in upon arrival
• Full Documentation - When your package arrives at the Cash4Gold facility, your items are photographed and compared to the itemized list that you provide. If you choose to have your items returned, then photographs are once again taken to verify that all your items are going into the return package.
• Secure Building - All people, including employees, are checked by armed guards and metal detectors prior to entering and leaving the building. Armed guards and high definition security cameras ensure that no jewelry leaves the building. The building is a complete “vault” – there are no windows and the walls are built like a vault.

Customer satisfaction is the number one priority at Cash4Gold. Very few competitors offer the 100% Satisfaction Guarantee that is offered by Cash4Gold.

If for any reason you feel that any of your items have not been fairly evaluated by Cash4Gold, simply return our check or call within twelve (12) days of the date on the check. Cash4Gold will promptly return your items. That I guarantee!

Jeff Aronson, CEO

You can use our Scrap Gold Calculator for estimates. Keep in mind, the 20% more Cash4Gold is offering is not implemented into our calculator.

Many people get confused about the scrap gold selling process. There are certain things you should expect when selling scrap gold so you do not run into any surprises.

This list will help you understand how the process works, and why you get paid what you do for your scrap gold and jewelry.

Gold Jewelry can be Gold-Plated or Alloyed

Some pieces of jewelry have other metals mixed in, usually to make them cheaper to produce or to create a color or quality effect.

Some gold items can be gold-plated, but are made up of a much cheaper metal like steel. Other gold items can be alloyed with something else – Rose gold, for example, comes from alloying gold with copper and silver.

If your scrap gold is metal-plated or alloyed with another metal, then you should expect to get paid less for it than if it were all gold of the same weight.

Do Not Expect the Real Price of Gold

Too many people see the price of gold (currently around $940 per troy ounce), and they expect to get that for their scrap gold. Here is why you should not expect to get paid the real price of gold.

• A troy ounce is not equal to a regular ounce – Metals are measured in troy ounces, while other things, like grocery store items, are measure in avoirdupois ounces. 16 avoirdupois ounces are in one pound.

  Troy ounces are heavier than avoirdupois ounces, so it would require more of one item for a troy ounce to be equal to an avoirdupois ounce.

  To make it easy, we can use the metric system

  • One troy ounce = 31.1 grams
  • One avoirdupois ounce = 28.35 grams
• Gold Buyers Need to Make Money – It costs money to inspect your scrap gold, refine it into gold bars, and to get it certified. Refining costs alone can be about 10% of the price. The gold buyers need to make sure they can stay in business.

  It is true the price you get paid is based on the current price of gold, but always except 20-30% or more less than the current price of gold, depending on who you sell it to.

• The Price of Gold on the Market Can Drop Fast – Gold buyers take on all of the risk when buying your scrap gold. It is very possible to see the price of gold drop by 5% or more in a single day. Although it is not common, it can happen over a few days. A gold buyer can pretty much lose all of its profit after they have paid you for your scrap gold.

  Because of this, gold buyers have to factor in some risk when paying you, so it is another reason to never expect the current market price of gold.

OK, everything so far ensures that you will get less than the market price of gold. But could you be getting too little for your scrap gold?

3 Tips You Can Use to Maximize your Scrap Gold Price

Get Paid More When You Have More Scrap Gold – Scrap gold buyers work on a graduated pay-scale, so the more you have of one type of gold, the more you will get per gram. When selling scrap gold, always sell as much as you possibly can at once.

Have More than 1,000 Grams? Deal Direct! – If you have a large amount of scrap gold jewelry, you are better going direct with a gold buyer, and negotiating your price face to face.

When selling scrap gold, most people only sell about 50 grams, rarely more than 100 grams, so going direct is not something you have to worry about.

Negotiate Your Payment – Any reputable gold buyer will give you a 100% Satisfaction Guarantee. If you are not satisfied when you receive your check (and even if you are), call up the gold buyer and try to negotiate a little more money for your scrap gold. If they give in, which shouldn’t be too difficult, you can see a few extra bucks for your scrap gold.

You may have some high-quality items to sell as well, which would not be considered scrap. If you have certified gold bars, certified gold coins, or high-quality antique jewelry, you are going to get a much better deal if you find a dealer or broker for these kinds of items. For you jewelry, you would go to antique jewelry boutiques or antique dealers. For coins, your best bet is finding a coin dealer.

Step 1. Separate Your Scrap Gold into Groups

Most real gold pieces will have markings on it to tell you its karat fineness. Separate the gold into groups of: 10k, 14k, 18k and so on. If you need help understand karat fineness, see this article.

Some gold pieces may require testing to determine it’s gold content, but it may not be worth the price when you’re selling just scrap gold.

In addition, some gold items may simply be gold-plated and not actually contain gold inside. This is OK, especially if you are selling to a scrap gold buyer. You may not get a lot of money for it, but if you don’t need it you might as well sell it for what you can.

Step 2. Determine the Total Weight of Each Group

You can find a gram scale for about $10 at your local office supply store, or you could buy a digital scale for more accuracy. If you do not have more than a handful of scrap gold to sell, there is no need to spend money on a digital scale.

You want the weight of each group to be in grams, since is the common unit of measurement with metals.

Step 3. Use Our Scrap Gold Price Calculator or do it Yourself!

Now that you have the total weights of the different types of scrap gold, you can use our scrap gold calculator for getting the estimated price for your scrap gold.

To do this by hand, you can get today’s gold price and divide it by 31.1. Gold on the open market is priced by the troy ounce (For example, $950 per troy ounce, and one troy ounce is 31.1 grams)

For each group of gold, multiply the karat by 24, then multiply that number by today’s price per gram. For example, if you have 10KT gold and the current price of gold is $28.94 per gram ($900.00 / 31.1), then the price of your scrap gold is $28.94 x .4167 = $12.06 per gram.

Once you have the per gram price, you can multiply the total weight of each group by the price per gram of each group.

For example, 10 grams of 10 karat gold at $12.00 per gram = $120.00.

It is much easier to use a Scrap Gold Calculator then doing it by hand!

Gold Prices dropped 3% from the start of the week to end up $921 to close out the week. Many people are wondering why the price of gold has been so unpredictable, despite economic hardships where gold prices usually flourish.

But current trends show that the price of gold is only set to rise. Many experts are still predicting a 4-digit gold price this year. Expect 6 months of volatility though.

From MiningWeekly

The gold price is expected to continue to trade with a high level of volatility in the next six months, and could top the psychologically four-digit market for “extended” periods of time, Australian equity researcher Resource Capital Research (RCR) suggested in a report this week.

From BullionVault.com

Pointing to the volume of new money being pumped into the world economy by national governments and central banks, “I certainly think gold will get above the $1030 high that it hit last year,” he added.

Here is a good analysis of why gold prices are set to soar this year. The excessive printing of money to “correct” the economic crisis will only lead to inflation, devaluing the dollar and other world currencies.

Gold prices declined for 8 straight days in the past 2 weeks, but rose to a little over $940 an ounce after news was released saying that the unemployment rate in the United States soared to the highest level in over 25 years. Stock and metal prices dropped steadily because many investors are sitting on the side lines waiting for good investment opportunity. Also many investors had to sell off gold to cover losses from other investments.

But the bad news released says that US economy lost 2.5 million jobs over the past 4 months, which led investors to jump back into gold as a safe investment. Of course, some people are still predicting much higher prices for gold, as much as $1,200 in the next 12 months.

So when a customer feels that they have been wronged, they take to the internet and post their story online for others to see. There are many gold and jewelry buying companies out there, but Cash4Gold is the only one that is consistently on the hunt for these complaints to resolve them. Most companies in the gold buying industry will ignore these complaints and do ‘business as usual,” but not Cash4Gold.

Straight from the Ripoff Report Website Investigation,

Cash4Gold customers can feel safe confident & secure when doing business Cash4Gold & Albar Precious Metal Refining – Commitment to total customer satisfaction, positive rating for its customer support.

Update: Cash4Gold pledges to resolve complaints. Commitment to Rip-off Report Corporate Advocacy Program.- Executives stated ‘We are only as strong as our weakest link running a company of this size & volume you must adapt to your customers needs’ Over $350,000 spent on new state of the art tracking systems

With so much volume being done at Cash4Gold processing centers (up to 30,000 packages processed per month), it was easy for individuals to get lost in the shuffle. But Cash4Gold has spent $350,000 on updating its gold pack tracking system, which is now unmatched by competitors. It will now only take a touch of a button for customer support to be able to find someone’s package.

Cash4Gold has Four Star Service

Last year, Cash4Gold hired an independent consulting firm to rate its customer service. The month long study resulted in a rating of 4 Stars for Cash4Gold.

Cash4Gold treats every package received like it is the most important one in the processing center. Whether that package has an old wedding band, broken watch, or even a gold painted rock sent in as a hoax, all packages are cataloged and examined by professionally trained jewelers.

A direct quote from Cash4Gold is “Even the gold painted rocks are treated as if they were real. If a Blog hoaxer has the time to send it in, Cash4Gold has the time to make an offer or send it back in the mail. That is Cash4Gold’s commitment to their process.”

If the customer is not fully satisfied with their payment, then Cash4Gold will return the contents of the package to the customer. Cash4Gold will hold onto your package for 10 days, so the customer has time to make a good decision. No other company will make this guarantee to customer satisfaction.

Cash4Gold pays out based on the quality of the gold and silver sent in, as well the current market prices for the metals. They then offer the customer a price that they think is fair. If you plan of selling to Cash4Gold, remember that you have a right to negotiate on what they are willing to pay you!

Beware of Imitators! Cash4Gold is your Best Bet when Selling Gold and Jewelry for Cash

Cash4Gold’s success has spawned a lot of imitators. There are now so many competitors in the scrap gold buying market that it is impossible to know who to trust. There are many fly by night operations popping up, and they will never be able to touch the level of commitment Cash4Gold has for its customers.

Cash4Gold is one of the industry’s most respected refiners and has consistently received an A Rating from the Better Business Bureau for seven straight years.

Sources: Cash4Gold: Four Star Rating for Cash4Gold’s Service