Selling gold can be an ideal way to earn some extra cash, but like many other commodities, its price can fluctuate with time. Though prices can be quite difficult to predict, gold has been an asset with lasting power. You can have confidence that it will still have great value in a year if you choose not to sell today. Here’s what you should know about selling gold.

Should You Try to Time the Market?

The price of gold can fluctuate from day to day — and even from hour to hour. The amount of money that you could get for your gold based on current market values is referred to as the spot price. However, many analysts look at futures prices and try to predict what the value of gold will be at a certain time in the future.

This process is known as timing the market. However, just like with the stock market, this process is tricky business at best. There is no secret formula for knowing if prices will rise or fall over the next few days. If you’re interested in selling, you’re better off focusing on the spot price.

When Is the Best Time to Sell?

The best time to sell gold coins or other gold assets is when you’d like to convert them to a liquid asset, such as cash or other stocks. This could allow you to use cash to finance a major purchase like a car or home or invest in stocks that have the potential of delivering even higher returns over time.

Whether you’re selling gold or estate jewelry, you can bring your assets to Coins & Stuff in High Point, NC, for great prices and fair treatment. Serving the Piedmont Triad region since 1980, as a member of the NFIB, NGC, and PCGS, their expert staff will provide an honest evaluation of the worth of your assets. To learn more about their services, visit them online or call (336) 885-5323.