Sunday, April 14, 2024

If you have used gold, you are obscenely rich: this is what he deserves today

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Did they tell you that if you use gold you are filthy rich? The reason for this statement is very simple: we are in a historical period when gold, which is a safe haven asset par excellence, has reached prices so high that it was unimaginable until recently.

The historical possibility actually leads to gold reaching very high levels compared to the recent past. Uncertainty caused by both climate change and global geopolitical instability, combined with the negative peak of the Russo-Ukrainian War, is driving the value of the precious metal sky-high. Wondering what to do with your used gold? Let’s try to draw some points of view in this article.

Used gold: This is what he deserves today

First of all, it must be remembered that the value of gold is measured in euros per gram, and that there is a price for each type of gold processing. If you own jewelry, the processing will definitely reduce the karat of the gold. Pure gold is 24 karat gold, then 18 karat gold (perhaps most commonly, ed), hence 14 karat and 9 karat gold.

The current price of 24 karat gold is 56 euros per gram. As we already mentioned, this is a very high rating compared to the recent past. It is quite stable in the past period, and if we look at the trend in the medium to long term, we realize that it can still grow. We’ll talk about this in more detail later.

We complete the used gold ratings picture by informing you that today 18 karat gold is worth €41.93/gram, 14 karat gold is worth €32.68/gram, while 9 karat is currently traveling at €18.56/gram.

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The value of gold used: medium to long-term trends

If we look at fluctuation charts for the value of gold, we realize that over the past year, gold has gained around €8 per gram, at least for its pure 24-karat version. It also exceeded €60/g last March, a few days after the outbreak of the Russo-Ukrainian War. Uncertain scenarios that unfortunately seem to crowd out our niche sites in the near future to predict another increase in the value of gold.

These forecasts say that gold should be worth over €60 per gram in 2023, and reach €70 per gram in 2024. So, if you have the possibility to hold gold again in the near future, you can get a bigger share of your previous investment. in this precious metal.

Wynne Dinwiddie
Wynne Dinwiddie
"Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst."
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