Gold Prices at Record Highs
Gold continues to shatter records, hitting $5,060 per troy ounce this week—up more than 40% in a year. Inflation, geopolitical uncertainty, and central banks hoarding reserves (1,044.6 tonnes last year) are fueling demand. For Canadians, this means old gold jewelry, coins, or bars may be worth far more than expected.
From Hidden Assets to Real Cash
A 10-gram, 14K chain could fetch $800 CAD, small hoops $350–415, and even a single stud up to $270. Brandon Aversano, CEO of The Alloy Market, says “that forgotten jewelry box may cover tuition fees or a household bill.” But in a world of ethical jewelry and rising demand for sustainable gemstones, is selling heirlooms just smart finance—or a short-term hype trade?
Mistakes to Avoid When Selling
Guardian Gold warns against selling without research. Key tips:
- Check the spot price before visiting a dealer
- Know purity (10k to 24k scale)
- Get multiple appraisals to avoid lowball offers
Smart Gold even publishes rates based on purity, adding transparency—something ethical buyers increasingly expect in jewelry markets.
Taxes, Timing & Alternatives
Scotiabank notes profits over $1,000 CAD may be subject to capital gains tax. While gold remains a long-term hedge, selling now might mean quick cash but losing a future safeguard. And with consumers eyeing lab-grown diamonds and recycled metals as safer, greener investments, will raw gold continue to dominate?