Throughout history, gold has been a scarce and valuable commodity. Armies have gone to war in an effort to get as much of the shiny metal as possible. Therefore, you shouldn’t have too much of an issue finding a buyer for your gold on the open market. Where exactly can you liquidate this valuable asset?
Sell to Gold Buyers Toronto
If you have physical gold that you would like to sell, it may be worthwhile to sell it to a buyer in your community. There may be a pawn shop nearby or a collector looking to make a deal through sites such as Craigslist. However, if you are going to sell to someone online, make sure that you verify that a potential buyer is interested and has the cash to make the transaction.
In some cases, a broken necklace or gold chain that you haven’t worn in years could be a source of fast cash. All you need to do is send it to a smeltering facility that will buy your gold, melt it down and then resell it to those who want or need it.
Buy and Sell Gold Stocks or Other Securities
You don’t need physical gold to have exposure to the commodity. Gold stocks, mutual funds and ETFs make it possible to own shares of companies that buy and hold large stores of the material. Shares of these companies or funds are then traded on the stock market during normal business hours. This offers more liquidity as well as a better price as deals are made on an auction basis, which means you always get the best price as of the time you sell your shares.
Gold Futures May Also Offer Exposure to Investors
If you are a day trader as opposed to an investor or someone who has inherited actual gold, you may want to trade futures. Put simply, a futures contract says that you will deliver a certain amount of gold at a certain date and at a certain price. However, in practice, you will sell the contract before the delivery date even if you hold your individual contract to expiration. This is perfect for an investor who likes to buy and sell gold based on short-term fluctuations for a profit without the need to keep gold on their person or actually deliver it in exchange for cash.
Selling your gold can be a great way to get cash for objects that are just taking up space in your house. For investors or traders, selling shares in gold funds or futures contracts can be a great way to make a short-term profit off of news events or other sudden changes in its spot price.