VANCOUVER, BC, Aug. 5, 2020 /CNW/ - Gold prices continue their historic gains this summer. On August 4th, prices passed $2000 USD per ounce for the first time. The rise in price has led to record numbers of Canadians recycling their precious metals at Canada Gold, a network of gold dealers with retail locations in Vancouver, Edmonton, Calgary, Toronto, Ottawa, and Halifax.
Gold has a reputation as a safe-haven investment, and uncertainty in global markets has pushed prices to record levels. The previous all-time high was set back in 2011, when gold briefly crossed $1900 USD/oz. Gold prices were around $1450 USD/oz at this time last year.
"For people who have some old gold and silver lying around, this spike in prices can make a real difference. Our average customer selling gold jewelling is cashing in over $1300 and receiving $300 more than they would have received a year ago," said Tyler Whitmore, CEO of Canada Gold. "I encourage those thinking of selling their valuables to visit a reputable dealer to ensure a fair price."
"Like many small businesses, we shut down retail locations and reduced hours and services due to COVID-19 in March. We have now reopened, and our employees are proud to offer safe, personalized service – including sanitizing, physical distancing, and store capacity rules in place."
Whitmore offered the following tips to consumers thinking of selling their gold jewellery and coins:
- Check current gold and silver prices: Avoid buyers who do not post prices, to help ensure you're getting the most up-to-date value
- Read the fine print: Some dealers advertise prices only for customers who sell more than $10,000 worth of gold. Most customers would not qualify for these prices.
- Know your weight: Make sure you know the weight of your items in grams before visiting gold buyers to ensure you understand their offer.
- Avoid price ranges: Be wary of any gold buyer who gives you price ranges but refuses to commit to a specific price.
"If you would like more tips for selling gold, visit CanadaGold.ca, give us a call at 1-888-219-7001 or visit one of Canada Gold's locations in person to speak to an expert," continued Whitmore. "Education is your best protection."
About Canada Gold
Canada Gold is a network of gold dealers with locations in cities across the country including Vancouver, Edmonton, Calgary, Toronto and Ottawa. The company stakes its claim on its reputation as the gold buyer trusted by more customers by paying fair market prices for all gold and silver.
SOURCE Canada Gold
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