Tue, 28 Sep 2021

Sell Your Gold and Invest in the Economic Recovery

25 Jul 2021, 05:24 GMT+10

Credit: nicedream30 via Freepik

Will this be a good year to invest in Canada's economy? There is no reliable way to predict the market, and as we've seen over the last year, sometimes the stock market just doesn't follow what the economy is doing.

The link between the economy and the stock market is weakening, but when spending is high and companies are investing in growth, the stock market usually does well. That presents a great opportunity for ordinary people to invest and reap the rewards of greater economic growth.

The forecast for the Canadian economy has growth in the future as economic restrictions are lifted in the wake of the country's largest vaccination campaign ever. With the promise of the pandemic winding down, rapid growth is on the horizon.

Why You Should Convert Gold into Cash

When you own gold jewellery, coins, or bars, it can be comforting to hold onto them. You know they'll always be worth something, and you can sell them in a pinch. But should you be holding onto gold as an emergency plan, or should you be proactive and potentially earn much better returns on the yellow metal?

Gold is not an income-generating investment, but it is known for its long-term stability, making it a great safe haven asset. However, when the economy is growing, and others investments like stocks are returning dividends and steady price growth, keeping that wealth in gold could actually be a missed opportunity.

If you're looking for extra funds to participate in what promises to be a robust economic rebound, now could be a great time for selling gold in Canada.

Gold Prices Are High

Right now, you have a great window to sell gold and maximize your returns. Prices are strong at the moment, and while they're not the highest they've been in the last 10 years, they are well above average for the period.

Because gold doesn't generate dividends or interest the way other investments do, it's all about finding the right time to sell and making sure the price is right so that you see good returns.

Where to Sell Your Gold

Successfully earning a good return on bullion also depends on finding the right place to sell. If you have bullion coins or bars, you want to find a dealer who will offer as close to spot as possible. If you're selling gold jewellery, you want to make sure you're taking it to a shop that can pay you as much as possible.

It's often a bit harder to get a higher return with jewellery. That's because you've paid for the design and brand name, but the buyer is only interested in gold content. However, if you can find the right collector, a good designer-brand piece will fetch a higher price than if you simply sold it for the melt value.

Not all jewellery will have a collectors' market, but you want to make sure you're selling to someone who will recognize and pay for that value.

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