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Updated 01:26 09/03/21

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Is it a good time to sell gold?


The ultimate goal of any investment is to eventually sell and, hopefully, make some money. Gold and Silver can differ slightly from this, insofar as they are typically used as a hedge or insurance against other markets crashing (check out the reasons to buy gold).

Some investors do however buy gold as a means for making money, and with the gains that can be made it’s easy to see the attraction. If profits are the ultimate goal though, then selling at the right time is the most important factor. So, when should you sell your gold?

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Best time to sell gold?

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The best time to sell your gold comes down to two factors: necessity, and the price of gold.

If you have been sitting on a gold investment for several years, the time could come when you need to release the value of it. A change in circumstances such as buying a house, taking that dream holiday, or retirement could encourage you to sell. While gold has an intrinsic value that has persisted throughout human history, it’s worth is ultimately only realised when you sell. Buying a house with a few gold bars isn’t going to happen in the current fiat currency system.

The second influence is when the price is right. The old adage of ‘buy low – sell high’ is as true for gold as it is for other markets. The problem with gold is that predicting the rises and falls is difficult. A look at the price of gold in the past 50 years (shown in the chart below) highlights the general trend upwards.
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The financial crisis of 2008 was the first major spike in the gold price.The second was around the Brexit vote of 2016. Both periods saw the price of gold rise in reaction to the stock markets crashing in 2008, and as a precaution to the unknown financial landscape of Brexit in 2016, and investors flocked to gold. Increased demand means increased prices and, if you have the market knowledge to see such trends coming, it is possible to make significant gains on gold purchases.

August 2019 also saw gold prices soar to new heights, as the UK neared one of the many Brexit deadlines of October 31st. Dollar movement caused by the US-China trade war, was boosted by a weak Pound. This has since fallen off slightly, but prices still remain high - going above and below the £1,200 per ounce mark. So is it the right time to sell gold? This depends on whether you think it will go higher. There are plenty of issues weighing on global economies that mean the gold price could still have room for further growth. Read our gold price forecast for more information.

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Is now a good time to sell your gold?

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No one can be sure how the price of gold will move. The price fluctuates regularly depending on economic conditions and investor demand. To combat this we offer live price charts; updated every two minutes, and sourced from the London Bullion Market directly.

At BullionByPost we also have a gold forecast page to help our customers spot the broader trends and give you an idea of what could happen in the next few months, as well as regular updates in our Gold News section.

As a longer term investment, it should be remembered that the fluctuations in the price of gold can even out over the weeks. It is usually by waiting months or years that real returns can be made on your initial investments. Even the financial crash saw the price rise steadily over a two-year period, rather than a knee-jerk reaction.

Global markets have recovered since that time, but investor confidence was shaken, and gold demand has been stronger since – to protect against a future crash. With Brexit uncertainty and a global growth slowdown, stock markets have seen their prices peak and begin to stagnate or drop – all good things for the price of gold. Demand for gold in technology, and from growing markets like India and China, could also see the price rise further.

The simple truth is that risk lies with the individual investor. As with any investment, timing is key. The way to perfect your timing when it comes to selling gold is observation. A combination of reading the news and checking market prices occasionally should be sufficient towards helping you make gains on your initial investment.

If think now is a good time to sell your gold, then BullionByPost would be happy to help. We offer market-leading rates on gold coins, bars, and scrap. Simply call the team on 0121 634 8060 who will be happy give you a quote based on the live gold price, and book your purchase order in.