How to Use Gold PriceAnybody that is thinking about taking old jewellery into a pawn shop or considering selling their gold to get some money should look into the price of gold today first. It is always wise to know what the current price of gold today is before heading to any shop. The market rates are easy to find so if you are thinking about making a sale first stop and look up the price of gold today before doing anything else. There are now plenty of places that you can sell gold but before stopping in make sure to know the price of gold today because not every dealer is honest.

Where to Sell

As mentioned, there are plenty of places that you can sell your gold and this variety means that some places will be honest and some will not. Like anything else you buy or sell, knowing the fair market price will help you find an honest dealer which is why it is so important to know the price of gold today. Most people choose to go to market stalls at flea markets or jewelers to sell their gold items. However, you can also go to many online websites and pawn shops now. The price can vary greatly between all of these venues and many tack on hidden charges so make sure to get the price of gold today first so you can figure out what is going on with the offer.

How Price of Gold Today Affects Going Rate

Most jewelers decide what they are going to offer you based on the price of gold today and the gold standard that you bring into them. The gold standard means whether you have a 14K, 18K, 24K etc piece of jewellery. Of course, they are a business so they also are going to take a commission out of what they offer you that tends to be anywhere from 10% to 20% of the price of gold today. If they think that the item might be resold and not just melted and sold back to the market they might even make you a better offer. This is one reason why a jeweler is a great stop, but be prepared for the fact that they just make you an offer based on the price of gold today. Reselling a product takes a lot of time in many cases and not all places will find it worthwhile.

Competitive Pricing On Price of Gold Today

Every jeweler is going to be different as will every shop if you are thinking of heading to a pawn shop, flea market stand, or anywhere else. Some places may not be as competitive as others when it comes to pricing and what commissions they take from the price of gold today. Some tack on service charges and hidden fees and so the actual amount you get may end up being as much as 50% less than what the price of gold today is. This is where it pays to do your research so that you have some type of idea of what is going on.

Full Transparency

One thing nice about using many of the online websites to sell an item is that they usually list the buy and sell prices of the gold on their website. This makes it easy to see what you will actually end up getting versus the price of gold today. If you want to go to a phyiscal location to sell your gold then call around first and ask what their rates are. Also, keep in mind that competition will make a place offer a better deal to you. Therefore, look into areas where there are multiple shops buying gold or jewellery because chances are they will offer better commission prices off the price of gold today to compete with each other. There is a lot of competition online as well so the same principle holds true.

The market fluctuates on a daily basis so every single time you go to buy a piece of jewellery you need to look up the price of gold today because it may not be the same. It is also wise to keep an eye on the market if you have pieces you are considering a sale of so that you can determine when you will get the best price of gold today. If you see the market going up when you check the price of gold today you might choose to wait for a bit to see if it gets any higher. At any rate, if you see the price of gold today start to go down you will know that now is the time to make your move.