May01

Weekly Gold bulletin in Layman’s terms! – The UK Gold price

by admin on May 1st, 2012 at 16:59
Posted In: Best Price For Gold

The London Gold Spot Price

The Gold price in London and the UK is determined via what is
known as the London Spot Fix. Effectively this is the gold price per ounce including
other precious metals such as silver, platinum and palladium and is determined
daily at 10:30 and 15:00 GMT via a brief conference call among the five members of the London
Gold Pool (Scotia-Mocatta, Barclays Capital, Deutsche Bank, HSBC and Société
Générale). The London spot fix price is then fixed to a price at the moment
when the conference call ends. See the latest real time gold price here.

The London Gold pool is supported by Associates of the London Bullion
Market Association (LBMA) which provides the daily spot fix prices across the
precious metals industry. This is communicated in UK Pounds, US Dollars and
Euros. The price does not remain fixed throughout the morning and throughout
the afternoon, however, and will fluctuate immediately after the spot fix.

How does it work?

When you buy Gold via one of the five mentioned firms (or via smaller providers who
set their price in accordance with the London Gold Fix), investors will pay the price at the next fix that day. In simple
terms, you make the purchase prior to knowing the actual cost; the London Gold
Fix determines the price later. This is a tantalizing balancing act, if the fix
is very high, investors will shop elsewhere. Actually most people would rather
not purchase gold in this unclear way; people and investors who buy Gold via
the spot market typically have a frantic need for it immediately, maybe they
are restricted by law to command a proportion of their assets in Gold. As a result,
the big 5 who fix the spot price of Gold have a motivation to fix it as low as
possible (to attract more people who want to invest in gold) without losing
money. When the fix is very low, then more people are willing to buy Gold in
the next spot cycle, and then the cost will be fixed slightly higher.

This can be a confusing subject for the person in the street Gold seller but Spot fixing is
basically how the “big 5” players and smaller providers attract customers who
want to invest in Gold and subsequently provides a pricing model across the
board from market investors to people who have scrap gold to
sell to provide themselves with some hard earned cash for Gold!

Please remember to obtail an up to date free Gold valuation here.

 Comment 
Apr26

Weekly Gold News Bulletin in Laymans Terms!

by admin on April 26th, 2012 at 14:43
Posted In: Best Price For Gold, Scrap Gold

The price of Scrap Gold fell to its lowest point in 2  weeks on Monday April 23rd after poor results from perceived
negative news from the French presidential election, continuing Spanish
economic woe and the Dutch government on the brink of resigning over the
implementation of its own stringent budget cuts. Please see latest Selling Gold Prices here.

In India, a country which imports large amounts of Gold
is importing very little following the Indian government’s decision to
implement double the import duty on its Gold to four percent. In simple terms
less Gold is being purchased and demand is low leading us to a slightly lower
price should we wish to sell our Gold.

This is not brilliant news for Gold selling or buying but on a more positive slant
Gold prices are still high in comparison, with numerous Gold analysts and
experts predicting a rise in Gold prices in the not too distant future.

Free Gold valuations available here.

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Apr17

Weekly Gold news Bulletin – In Layman’s terms!

by admin on April 17th, 2012 at 14:33
Posted In: Best Price For Gold

If you are selling and require Cash for Gold then my
new weekly updates based on the previous week’s trends will provide a good
platform to base your decision to Sell Your Gold or perhaps hang on for a
while!

Scrap Gold prices are extremely volatile at present
with 9 carat prices hovering around £12.20 per gram. Although doing very well compared to just £5 per gram in 2008!

This is all to do with unsettled world economies including Chinese worries, the on-going European debt issue and
seemingly no organised reaction from European governments.

Market experts are at the moment stating that Gold is
likely to gain strongly overall in the short term (Snappish ups and downs still
likely though!), exactly when is the question we would all like to know but
nonetheless positive feedback so please keep your eyes peeled on the Best Price  for Gold here.

I think to sum up Gold trading and our subsequent Cash
for Gold prices are likely to trade higher in the coming weeks although on
certain days when Gold prices rise, it is sometimes sold off at the higher price meaning the overall price may be
reduced lower and away we go again…..

Remember to click here for your free Gold Valuation.

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Apr13

What is the outlook for Gold in Quarter 2 – 2012?

by admin on April 13th, 2012 at 08:33
Posted In: Best Price For Gold

The million dollar question that we would all like to know is what is going to be the price of Gold come
tomorrow, next week or during the next 3 months perhaps? The aim of this  article is to provide information, in layman’s terms whether you should be
selling your gold and taking the cash or keeping your unwanted Gold. The  ultimate decision is yours!

Trying to obtain the best  price for your Gold, please see our Gold prices  is often a game of cat and mouse with the Gold markets. Sell your Gold for cash
now or keep it until the Scrap Gold prices increase to a threshold that is  acceptable to you and your pocket is also a question that thousands of us ask
ourselves and research every day.

The fact is that if scrap gold prices can hold near where they ended this week (13/4/12), market analysts have
apparently stated that this could kick start the gold price towards an upward  trend.

The price of Gold ended the month of March 2012 down 2.46%, but increasing by the end of Qtr 1 by 6.38%. Incidentally
Silver fell 6.23% on the month of March, but was also up in Qtr. 1 by 16.18%.

Further clues within the industry derived from a recent survey including investment banks, traders, and
bullion dealers stated that for Qtr. 2 approx. 50% saw the price increasing,  30% the price down and 20% the Gold price staying “about the same”.

Gold has often been a safe haven to invest Gold especially when general economic markets are depressed,
boosting the price and subsequently the cash we can receive for our Gold. With  the USA economy appearing to be turning for the better and the Eurozone
relatively quiet on negative news (for now!) then Gold is slightly less  appealing to investors whom see their profits coming from traditional
investments such as stocks and shares for example. This generally has a downward  impact on scrap Gold prices.

In brief conclusion, peering into the chaotic and complicated world economic situation it would appear that
a Gold up turn is unlikely in Qtr 2 this year with scrap Gold prices maybe on  the up during Qtr. 3 or more likely qtr. 4. For me it would seem that no one
really is that certain given the volatile nature of the USA, Euro and indeed world economies at present.

Let us not forget that by comparing Gold to an average price in 2008, it has approximately increased in value by
some 25% so if you do sell your Gold for cash now you can get a good deal, why  not visit our Gold services page. Conversely Gold will always be a valuable metal and who is to say that it
will not increase by a further 25% by 2016? If you are not sure what to do then  why not get a Free Gold valuation by visiting anytime 24 hours per day!

Whatever you decide, good luck! And look out for my next blog.

Philip

Best Price for Gold

enquiries@bestpriceforgold.co.uk

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Nov01

Sell Scrap Gold – Do not be ripped off!!

by admin on November 1st, 2011 at 06:42
Posted In: Scrap Gold

At Best Price for Gold we aim to be as impartial and fair as possible and provide some honest, good common sense advice on how to obtain the best possible cash price for your Scrap Gold and Scrap Silver. 

Our customers are aware we give some of the highest prices within the UK for Scrap Gold, Silver, and other precious metals such as Platinum, Palladium and Rhodium and to be truthful we have to so we can compete with our rivals. Please be aware that there are companies who will unscrupulously offer a ridiculously high price on-line for your Scrap Gold only then to offer a derisory amount upon receipt of your items and then miraculously offer twice the amount when you refuse out of hand the original offer (which of course is still well down on the market rate anyway!). There are traders within the business who will attempt to rip you off, powerful words but regretfully true.

9 carat Gold is presently worth over £11 per gram and although a tad volatile due to world economic problems it is generally still on the up! Our recommendations to evade under par low price offerings and conversely, outrageous claims of artificially high prices are as follows;

  1. Shop around for the Best Scrap Gold price.

Best Price for Gold prices are connected directly to the London Gold fix which is fixed to a price around 11:00 and 15:00 daily Mon – Fri. You can confirm current daily Gold fix prices yourself by visiting http://goldprice.org/ just click relevant country. Check Gold buyer prices on-line and make comparisons. Be careful of misleading Google ad’s advertising super high prices. Always visit the dealers’ web site and check their advertised price if you can find one! Honest Gold dealers will almost certainly advertise their existing prices daily, live on-line, the not so reputable will advertise only on their tempting Google ad’s and not their scrap Gold and Silver home web sites. It is advisable not to visit high street jewellers, Gold street traders and Gold TV/Radio advertised companies as there high recurring costs will inevitably be met by you.

 

  1. Be aware of what you have!

Try to ascertain the carat of the Gold that you have. Most Gold (but not all) will have a Gold or Silver stamp although some rolled or plate Gold may have non-genuine marks so you have to be on your toes! Why not buy a cheap eye glass on-line and follow our information page by visiting http://bestpriceforgold.co.uk/your-gold.aspx . The information on this page outlines the various Gold carats and hallmarks to look for including Silver. Decent kitchen scales will also help provide an approximate appreciation of the all-important weight of your scrap Gold valuables.

 

  1. Honest and Transparent scrap Gold purchasing practices.

Best Price for Gold are proud to work to a working practice of delivering Honesty, Integrity and Excellent customer service to our customers. Our business is conducted in an open and transparent way. Our business sector has often been tarnished by cowboys and quick buck merchants so when contacting potential Gold buyers do not be afraid to ask uncomfortable questions as honest businesses will have nothing to hide and answer accordingly.

 

When dealing with Best Price for Gold you will be paid the advertised on-line price that is available to the general public at the time of us receiving your items and with a guarantee of package returns within 2 working days you are fully in control of your precious Gold, Silver and other metals! Please visit http://bestpriceforgold.co.uk/our-services.aspx for further information or call free on 0800 130 3343.

 

This blog editorial, it is hoped, has supplied the newcomer seeking cash for Gold some perspective of how to sell their Gold both cautiously and safely and above all using some common sense! Should you have an opinion on this article or feel we have missed some topics or you just wish to comment then please let us know via this blog’s comment page.

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