Market experts are predicting gold prices could hit $3,000 before Christmas boosting prices for scrap gold
UK residents looking to declutter could make a tidy sum as gold prices soar to record levels. Gold has reached unprecedented highs with more than $2,700 an ounce recorded, with speculations it could hit the $3,000 mark by Christmas.
Scrap gold dealer BullionByPost suggests that Britons rifle through their old jewellery boxes because there could be a fortune in unworn trinkets. A modest 9-carat wedding band, for instance, could bring in £121.91, while a heavier 9-carat Belcher chain might yield £647.89. Those possessing heftier pieces, such as an 18-carat men's curb chain at 40g or a 14-carat chain necklace weighing 65g, could see returns of £1,727.63 and £2,182.28, respectively. The largest payout by BullionByPost was an extraordinary £59,984 for a mixed 2.4 kg haul.
Pete Walden, managing director of BullionByPost, noted: "The most common scrap gold is unwanted/broken jewellery. Rings, necklaces and other chains are far and away the most likely scrap gold items people would have at home. "Other popular scrap items we see are mounted coins, where people have used a small coin like a Sovereign or Half Sovereign as part of a necklace, brooch, cufflinks. We get offered various odd items from time to time from dental gold to gold nuggets found in rivers, but we mostly buy plain gold items."BullionByPost has a calculator tool you can use to find out how much your scrap gold is worth.
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