gold price news online

Scrap Gold Price

To determine how much you can get for scrap gold, you first need to know what exactly is scrap gold. Scrap gold can be anything from single earrings, gold teeth fillings, to other random, broken pieces of jewelry. Scrap gold is generally lower quality gold and jewelry pieces, or really anything that has gold in it.

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!

Posted in How-To Sell Online |

Gold Prices Drop This Week, But Future Looks Promising

March 28th, 2009

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.

Posted in Gold Price News |

Gold Price Tops $940 an Ounce after Unemployment Data Release

March 7, 2009

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.

Posted in Gold Price News |

Gold Prices Soar to 7-Month Highs

Tuesday, February 17th 2009

President Barack Obama signed his stimulus bill into law today, and the stock market took a nosedive. On the flip-side, the price of gold reached a 7-month high, trading at $967 per ounce for April futures. The price of gold has gone up 9.4 percent this year.

The price of gold typically goes up when there is fear in the economy, because it is seen as a safe investment. Many investors are concerned with the US Government’s ability to pull the country out of a recession, so they dump stocks and turn to gold as a hedge bet.

Some gold-pundits see gold reaching highs of $2,300 per ounce down the road.

Seasoned forecaster Dundee Wealth Inc chief economist Martin Murenbeeld and US Global Investors precious-metal-fund comanager Ralph Aldis both cite the exact same long-term $2 300/oz figure, Murenbeeld explaining that the $850/oz gold-price peak of January 2008 translates into a $2 300/oz peak in today’s money.

Sources:
AP
Mining Weekly

Posted in Gold Price News |

Cash4Gold Remains Committed to Complete Customer Satisfaction

When it comes to buying old gold and broken jewelry, no one does it better than Cash4Gold. In 2008, the price of gold soared, and business for gold buyers like Cash4Gold followed. But with so many people requesting kits and selling their old gold to Cash4Gold, it’s easy for a few customers to slip through the cracks.

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

Cash4gold rip off reportWith 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

Posted in Company Reviews |

Sell Scrap Gold and Old Jewelry in Canada

If you’re in the United States, then there’s a great chance that you’ve seen a commercial on TV for selling your scrap gold and jewelry. Simply visit their website, order a form, ship off your old gold and jewelry, and wait to get paid. It’s a very easy and pain-free process.

Unfortunately, for a long time it was not possible to sell gold and old jewelry online in Canada. Now are neighbors to the north are in luck! If you are in Canada and want to sell old gold and jewelry for cash quickly, visit this link for Dollars4Gold.com (or any link on this website. You will automatically be redirected to Dollars4Gold if you are on a computer with a Canadian IP address!)

Posted in How-To Sell Online |

Price of Gold up $100 in Past Month to $840

Tuesday, December 16 2008

The price of gold hit historic highs earlier this year in March because of a looming economic crisis and panic. It appears that this panic is back, as the Fed has lowered interest rates to “jump start” the economy, but at the same time, lowering the value of the dollar.

Gold gained 9% last week, which was the highest one week advance in 3 months.

The dollar index, which tracks the value of the greenback against a basket of other major currencies, fell 0.8% on Tuesday. The greenback and dollar-denominated gold prices often move in the opposite direction.

Source: MarketWatch: Gold rises on weaker dollar ahead of Fed decision

Experts say that the low interest rates will hurt the dollar in the long run.

“If the Fed has to keep rates very low for a long time, that’s going to be awful for the dollar and very good for gold,” said Matt Zeman, a metals trader at LaSalle Futures Group.

Source: Gold rises on dollar’s weakness

Posted in Gold Price News |

Gold Price of $1,000 per ounce is possible in 2009, Rise in Price Likely

Many people are confused by the price of gold in 2008, where it has proven to be unpredictable despite all of the economic turmoil the world is going through. Gold is typically a hedge bet against a bad economy, but the price has fallen sharply from all-time highs reached earlier in the year.

Gold Fields CEO, Nick Holland, says that gold is set to bounce back to a higher price, with $1,000 an ounce possible in 2009. Holland believes that the current market conditions resulted in a sell-down of everything, which has brought the price of gold down with it.

“But gold will regain its value relative to everything else, particularly as all the major currencies of the world are trading on negative real interest rates and inflation is picking up, which are all of the ingredients for a stronger gold price,” Holland told Mining Weekly Online.

Quote Source

While Holland has a vested interest in the price of gold, other experts are predicting rise in the price of gold, although not as high as Holland predicts. More conservative estimates predict the price of gold reaching around $800 in the coming weeks.

Check out gold price analysis video by Adam Hewison, President of INO.com, which predicts the price of gold making a comeback to around $800 in the near future.

Posted in Gold Investing |

Gold Prices Reach Near $900 an Ounce, Tuesday, October 7th

The stock market continued to fall, even after the proposed $700 billion bailout bill passed. The bailout bill failed to help the stock market, and the Dow Jones lost another 500 points.

There are few safe investments left, but gold remains an attractive investment. Gold settled at $882 an ounce on the New York Mercantile Exchange on Tuesday. This was after it jumped $33 to $866.20 an ounce on Monday.

Although the US dollar is gaining back some of its strength, it also fell on Tuesday. Combined with the stock market crash, it’s easy to see why everyone is flocking to gold.

Article Source: Gold prices climb amid financial uncertainty

If you’d like to invest in gold, take a look at Bullion Vault, the easiest way to buy gold bullion.

Posted in Gold Price News |

How and Where to Buy Gold Online

With the turbulent times in the economy, stock market, banking system, etc, it seems like the world is ending. It’s not, but things are going to get worse before things get any better. When tough times hit the economy, people buy and invest in gold. Why? Because gold holds it value and is not subject to major losses. It is a simple commodity and attainable by anyone.

But there are many ways to invest in gold. Let’s take a look at the common ways to own or invest in gold, along with some general advice.

Gold Bullion

By far, the best way to invest in real gold is gold bullion. It is the most liquid and guaranteed form of gold. When dealing in professional gold markets, gold bullion is bought and sold in the form of Good Delivery bars. Good Delivery bars are certified, at least 99.5% pure gold, and are very carefully tracked when moved to ensure that they are never tampered with. This ensures that if and when you are ready to sell them, you will never have a hard time finding a buyer.

Most novice gold bullion investors will need at least $10,000 to get started if they do not know what they are doing. Commission fees are high, and storing the gold somewhere safe can be an issue. But there is a little known secret for the rest of us. The website is called BullionVault, and it eliminates most of the issues associated with buying gold bullion. This website allows smaller investors to buy gold at the prices big buyers pay. Low commission fees, storage is handled for you, friendly customer service, and the website is really simple to use.

Tip: Use BullionVault for buying gold bullion. Go Directly to BullionVault, or read more about the company. Otherwise, if you are a big time gold buyer, then you probably already know where to go!

Gold Stocks

Gold stocks usually refer to gold mining companies. You’re not actually buying the gold, but rather in the company that mines it. The value of the stock will depend on the demand for gold, how fast the company is growing, and many other factors. The risk is when the gold runs out at the mine, the stock will likely crash. No mining company is able to predict the amount of gold it will mine and for how long, so there is some significant risk involved.

Tip: Like any stock investment, it pays to do your due diligence. Do not blindly invest in gold stocks because the price of gold is up. Research the companies thoroughly, keep an eye on their performance, and after enough time make your decision.

Gold Jewelry

Gold jewelry is the easiest way to invest gold, but also the worst. Unless you are an avid jewelry collector or expert, there is no way to tell what you are paying for. Gold jewelry will almost always lose value as soon as you buy it (the same thing applies to driving a new car off the lot.) Resale value for gold jewelry will always be less than what you paid. The reason is because when you buy gold jewelry, at a jewelry store for example, you are paying a premium for the store’s overhead, marketing costs, and the labor for making the jewelry. The price of the jewelry is significantly more than what the actual gold is worth.

Gold jewelry is not very liquid either. If you want to off-load jewelry, you have to go through second-hand markets like eBay or classified sites, and even then it can be hard to sell.

Tip: Never buy gold jewelry as a gold investment. As a matter of fact, when gold prices go up, you’re better off selling the jewelry you don’t want for fast cash. You can sell broken and junk gold jewelry by clicking here.

Gold Coins

Gold coins can also be a good investment in gold, but you have to be careful where you buy them from. Collectible gold coins are a good investment because their quality and content are guaranteed. There are many kinds of gold coins available, and they seem to be issuing new ones all of the time. You can “strike gold,” so to speak, if you’re holding onto a coin that suddenly becomes a hot collectors item.

Gold coins are easier to sell than jewelry, because there are is a market for them. Some coins will increase in value over time, while others will hold their value if they are not at all scarce.

Tip: Research the gold coin collector niche before making a purchase. It is always wise to invest in gold coins when the price of gold is low. When tough times hit, the demand for gold coins can skyrocket. In fact, demand can go so high that the US Mint stops selling gold coins because they cannot produce enough. There are many online sources for buying gold coins, so look and ask around. Unfortunately, we currently do not have a recommended source for buying gold coins.

Posted in Gold Investing |

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