VANCOUVER, Aug. 8, 2019 /CNW/ - Gold prices continue their huge gains in August, breaching $2000/oz CDN per ounce for the first time. The rise in price has also translated to Canada Gold dealers across the country seeing record numbers of people selling their gold jewellery and coins, taking advantage of the record prices.
"The average customer selling gold jewellery is cashing in over $1000 and receiving an extra $200 compared to what they would have received with the prices from a year ago," said Tyler Whitmore, CEO of Canada Gold. "I encourage those thinking of selling their valuables to ensure they go to a reputable dealer to ensure a fair price."
The previous all-time high was set back in August 2011, when gold peaked at $1850/oz and was around $1500/oz this time last year.
Gold has a reputation as a safe haven investment, and uncertainty in global markets has driven the prices up. The escalating US China trade war and the sagging stock market in particular have pushed prices up.
Whitmore offered the following tips to consumers thinking of selling their gold jewellery and coins to avoid dealer scams:
- Check current gold prices: Avoid buyers who refuse to post prices to help ensure you're getting the most up-to-date value
- Read the fine print: Some sellers advertise prices only for customers who sell more than $10,000 worth of gold
- Know your weight: Make sure you know the weight of your items in grams before visiting gold buyers to ensure you understand their offer
- Avoid price ranges: Be wary of any gold buyer who gives you price ranges but refuses to commit to a specific price
"If you would like more tips for selling gold or have any questions about avoiding gold buyer scams, give us a call on 1-888-219-7001 or visit one of Canada Gold's locations in person to speak to an expert," continued Whitmore. "Education is your best protection."
About Canada Gold
Canada Gold is a network of gold dealers with locations in cities across the country including Vancouver, Calgary, Edmonton, Toronto and Ottawa. The company stakes its claim on its reputation as the gold buyer trusted by more customers by paying fair market prices for all gold and silver.
SOURCE Canada Gold
For further information: Canada Gold, 1-888-219-7001, firstname.lastname@example.org