| Are you thinking about selling your gold but are leery | | | | ambiguities when dealing with scrap gold and if you're |
| because you don't understand how it's valued? The | | | | not aware of what you're doing when you sell it can |
| first thing you need to understand is the spot price. The | | | | cost you dearly. One thing to remember is the more |
| spot price simply stated is the price at which the | | | | scrap gold you have to sell the higher the rate of |
| market is buying and selling spot gold. This figure is set | | | | return should be. |
| twice a day by the London Gold Pool. The price is | | | | Most people make only a few scrap gold trades in |
| determined by the law of supply and demand. The | | | | their life. If you walk into a pawnshop with a pocketful |
| rate is then translated into Euro dollars and US dollars. | | | | of broken gold jewelry and your not aware of the |
| Gold is always measured in Troy Ounces. If the spot | | | | formulas, scales, and methods, used to place a value |
| price of gold is $1000 it means that one-ounce of pure | | | | on your little treasure you could lose a small fortune |
| 24k gold is worth a thousand dollars at the spot level. | | | | and not even know it. |
| But if you decide to sell your gold don't expect to get | | | | There are a lot of other factors that enter in to making |
| that much money for it. There is far more involved in | | | | an intelligent decision when you accept a gold brokers |
| selling scrap gold for cash. | | | | bid. The power of gold is mysterious and confusing. Do |
| The best gold brokers pay on a sliding scale. Some of | | | | your research before you sell scrap gold and you will |
| them will pay over 90% of the spot price. But there is | | | | come out ahead. If you wait until you're in the dealers |
| a catch. You have to understand the rules of the | | | | shop to try and understand what happening you will |
| game to realize that kind of return. There are a lot of | | | | likely end up with what you accept. |