Gold Nuggets | A Time to Buy, and a Time to Sell

A Time to Buy, and A Time To Sell

As seasoned jewelers, adept at both buying from and selling to the public, our day begins and ends with a keen eye on the ever-changing price of gold.
A Little Piece of Me Reading A Time to Buy, and A Time To Sell 3 minutes Next Skating Through Time
stock image chart showing an increase

The trend of gold prices have been steadily moving upward since 2019, but in recent months, it has surged to unprecedented heights. On Friday, March 8th, the price per troy ounce—an industry standard measurement for gold—reached an astounding $2,195, marking a historic pinnacle. As a result, there has never been a more opportune moment to turn unworn jewelry, broken chains, or even mismatched earrings into substantial cash returns.

Picture transforming those neglected pieces hidden away in your jewelry box into a windfall of wealth! This isn't merely about financial gain; it's about seizing a once-in-a-lifetime golden opportunity. Moreover, partnering with Baraka Gems means not only enriching yourself but also extending support to our sister non-profit, A Ring of Hope, dedicated to uplifting the Kosele community and their young students in Kenya.

Yet, you might be wondering: why this sudden surge in gold prices, and why now?

Geopolitical Tensions: Throughout history, gold’s value tends to escalate in response to global instability. Moments such as the onset of World War II and the aftermath of 9/11 witnessed significant spikes in gold prices, reflecting the uncertainty and volatility gripping the world stage. Currently gold prices may be in response to the on-going instability in Europe as the Ukrainian war continues, as well as due to the dragged out conflict over Gaza.

Hand hold a heart shaped Ukrainian flag

Inflation of the US Dollar: The relationship between gold price and the US dollar is an inversely linked system. When the dollar is strong, the value of gold diminishes, and vice versa. Here in the US, the economy still lags behind from the recession caused by COVID-19. With inflation still high, the dollar is weakened which lends to the rise in gold price. 

Finite Nature of Gold: Gold's scarcity is the main driver of its value. While the concept of "peak gold" still remains on the horizon, there's an understanding that production has come to a plateau. Some experts even suggest that the sustainability of gold mining could be called into question by 2050. As the global supply of gold faces constraints, its worth continues to rise. 

In essence, there's never been a better time to cash in on that old jewelry gathering dust in your drawer. With gold prices soaring to unprecedented heights, transforming those forgotten trinkets into cash is like striking gold yourself. Here at Baraka Gems we're here to help. 

Follow this link to set up an appointment today!