Gold Prices Near Record Highs as the UK Plunges into Its Deepest Recession

As the UK enters what could prove its worst recession in history, gold prices are near record highs. 

The UK entered recession in early August and as the economy began a freefall, after two consecutive quarters of downturn, gold prices started to shoot for the moon. Gold prices topped $2,000 for the first time on August 4th. In sterling, the price peaked on the 7th August at £1,572 and gold is on what looks like a long-term price surge.

This might seem counterintuitive to many, but for those in the know in the gold community, it was to be expected and planned for with increased levels of investment in the world’s most popular precious metal. This is because the price of gold often holds, or even rises, during times of crisis or economic downturn.

Will gold prices continue to rise?

Gold prices have been on an upward trend for a long time. Prices have almost doubled over the last decade, and prices have risen by an incredible 30 per cent just this year, and there’s time yet for prices to continue to skyrocket, in light of the recession.

Why do gold prices hold their value during times of crisis?

Gold is considered a safe haven investment during times of crisis. It is less volatile than other forms of investment like stocks, which can go up and down dramatically. Gold holds its value and is considered a hedge against inflation when currency loses its value. In times of inflation when the costs of goods and services rise, central banks start printing money, causing currency to lose value, however, gold is unaffected by this movement.

Sell scrap gold online

If you happen to have any scrap gold at home, perhaps a family heirloom or a piece of unworn jewellery, you might be surprised how much you can earn from selling gold.

At Cash For Your Gold we help sellers sell with confidence. We are one of the UK’s largest scrap gold buyers and have paid out more than £60 million.

Currently, we’re offering £16.75 for one gram of 9 carat gold. This is a superb price for your scrap gold. See our market rate comparison in the sidebar to see how we compare to other buyers in the market.

How it works – 3 steps

1. Weigh and value your precious metal at home

2. Post us your metal – 100 per cent secure postage

3. Get paid in just 24hrs!

Selling to Cash For Your Gold means you’ll receive payment by the end of the same working day we receive your scrap gold.

Selling gold with Cash For Your Gold

To find out more about capitalising on your scrap gold, send us a quick message, or call our team on 01902 623 253 today.

If you’d prefer an in-person meeting please book an appointment. Our offices in Wolverhampton reopened on August 17th, and we’d be happy to see you.

Call us on 01902 623 253 to book an appointment.

Time To Re-Group

When Covid – 19 hit in March we made the decision to keep working for as long as possible and furloughed non-essential staff where we could. Our staff members have been amazing during this crisis. Despite the imposition of lock-down, social distancing and hygiene requirements they have soldiered on and handled unprecedented demand from our customers. 

We have now arrived at the point where, frankly, our team need to take a break. Rather than rotating individuals onto annual leave and putting more pressure on the remaining staff members as a result, we have decided to close our offices for a full week so that everyone can get some much needed rest and the opportunity to re-connect with family and friends. As lockdown measures are now starting to ease we think that August would be the best time to take this break. 

As a result, our offices will be closed from 3pm Friday 7th August 2020 and will re-open at 9am on Monday 17th August 2020. 

During this period our offices will be unable to accept deliveries and any parcels addressed to us will remain in the postal system until our return to work. 

PLEASE DO NOT SEND PARCELS TO US FOR DELIVERY DURING OUR OFFICE CLOSURE. 

We would encourage all of our customers to make any planned sales during the next week to avoid delays in processing. 

Whilst we appreciate that these arrangements may cause some inconvenience, for which we apologise, the wellbeing of our staff members and our ability to continue to provide outstanding service to our customers in the months ahead are of great importance to us. 

A huge ‘Thank You’ to all of our customers, old and new, for your loyalty, patience and continued support during these unprecedented times and for the many emails and even letters of appreciation that we have received. 

Stay safe and well, it is by no means over yet! 

The Team at Cash For Your Gold

Silver is on the Move… Is Now the Right Time to Sell Silver?

Out of all the precious metals, gold often steals the headlines due to its high demand and value. However, in July 2020 there has been a surge in the demand for silver, pushing the metal’s price to its highest level in recent times. So is now the right time for you to sell silver?

Why is there a rise in demand for silver? 

As reported by the Wall Street Journal, silver prices have soared 66 per cent since their lowest point in March 2020, priced at $19.50 a troy ounce in New York. Experts believe that the silver market will explode at any minute. So, what has caused this rise in demand? 

There are various factors that have contributed to this rise in the silver price. A historically high number of physical silver purchases made through exchange-traded funds (ETFs) have been recorded throughout the last few months. Not only is silver generally seen as a good investment, particularly during an economic downturn, it is also very much in demand as an industrial metal and acts as a vital component in the creation of batteries, thermal and electrical conductors and technology devices. 

Following the relaxation of lockdown restrictions, the industrial sector has been able to reopen factories and begin the return to pre-lockdown production levels. It is therefore unsurprising to see the increase in demand in conjunction with the economic downturn and the recent increase in industrial production levels. 

A golden opportunity? More like a “silver” opportunity

There is no telling how long this increase in demand will last, so capitalising on this seemingly unique opportunity shouldn’t be missed. 

Whilst a collection of old gold watches or jewellery could be sold at a sufficient price (depending on the carat and weight), it is important to note which silver items are most valuable and worth selling. Most pieces of silver jewellery are typically plated, meaning that they would need to be melted down and refined before they could be repurposed as a silver coin, bar or other pieces of jewellery. This added labour has an impact on the resale value, causing it to be substantially lower than solid silver items.

Even those that aren’t plated are in such small volumes that they will not often secure you a worthwhile value when it comes to selling. 

However, if you’re in possession of larger silver items, such as silver bars and silver coins, selling your silver does pose an opportunity worthy of being explored. 

These larger items can secure you a decent resale price in line with the market silver price. 

Selling silver with Cash For Your Gold

Don’t overlook scrap gold companies like us if you are looking to switch up your portfolio and explore new opportunities by selling silver. 

With over 25 years’ combined experience in the precious metals industry, Cash For Your Gold offers competitive market rates for silver, gold and other precious metals. Our Silver Scrap Calculator can give you a valuation in minutes; all you need is the weight and purity to determine a price.

For more information about capitalising on your scrap silver, drop us a message or give the Cash For Your Gold team a call on 01902 623 253 today.

Decluttering… Is there Gold Hidden in Your House?

With people working and staying at home more than ever during this current climate, now is the perfect time to get started on those household chores you would normally avoid, usually entwined with the attitude of “we don’t have enough time to do that this weekend!”

“One man’s trash is another man’s treasure”

As we begin to approach the heat of the UK’s summer months, that doesn’t mean it is too late to get up into the attic and spare bedrooms to finally start that well overdue spring clean. 

Decluttering has been proven to have multiple benefits for our mental health, something that is vital during these more taxing times, and can even lead to you finding some forgotten treasures. What may initially seem to be old junk could actually be more valuable than you think to the right person!  You may even be sitting on a small fortune without even knowing it.

Remember, it’s not always obvious that an item may contain gold. Old, broken pieces of jewellery and watches are the more obvious finds. 

Even metal dental fillings and fake teeth can be traded in for some extra cash (we do not recommend attempting any DIY dental extractions at home, however!). 

If you are hesitant about a certain item or would like further guidance on identifying valuable scrap gold, it is always worth getting in touch with one of the Cash For Your Gold experts before sending it off to landfill, as you never know how valuable it could be.

The effect of COVID-19 on the gold market

Gold prices are currently at a six-year high. Forbes has reported that there has been a record-breaking surge in demand for gold during the COVID-19 pandemic. During the first quarter of 2020, investors are reported to have acquired $23 billion of exchange-traded funds that hold the metal. There are even predictions that the value of gold could go even higher, as historically, during times of crisis, people turn to gold as a safe hedge. 

Even as the lockdown measures relax across different areas of the UK, there is still time to sort through your household belongings. Not only will you benefit from decluttering your home, your scrap gold could potentially be worth a higher value than usual, all without you having to do any additional work. 

Selling with Cash For Your Gold

This begs the question, “what do I do with all of these items?”. Whilst you may not be an expert in valuing gold, this is where our specialist expertise comes into play. 

Firstly, you will need to check whether your discovered goods contain real gold, silver or other valuable metals as you will not be able to profit from your items if they do not contain any or are fake. A member of the Cash For Your Gold team will be able to assist you with any queries you may have about your items. 

Our Gold Scrap Calculator can give you a free valuation within minutes; all you need to know is the weight in grams and the fineness of the gold by carat. Cash For Your Gold offers competitive rates and the latest up-to-date information on the buying prices for different carats of gold, silver and other valuable metals to ensure you are getting the best value for your items.

For more information about recycling your scrap gold, drop us a message or give the Cash For Your Gold team a call on 01902 623 253 today – we have the most competitive rates for gold and other valuable metals, so what are you waiting for?

Cash For Your Gold are open for business!

We are buying scrap precious metals again as the processing section of our industry begins to recover after the recent shutdown.


Please send your items to us by Insured Royal Mail Special Delivery, this is the only delivery method that we recommend and is very reliable.


We are currently still unable to accept appointments at our offices due to Social Distancing requirements.


Pressures on the Royal Mail delivery system are such that parcels may take longer to arrive than usual but they are getting to us and can be insured up to a value of £2,500 each.


We are operating with reduced staff and aim to process your items and contact you with an offer within two working days of receiving your parcel.

Coronavirus Rally Makes 2020 the Ideal Time to Sell

Few could have predicted how 2020 would play out – a pandemic spreading to each corner of the globe, causing stock markets to fall with record speed. Fortunately for gold, this is the precise time for prices to be rising, so if you have the smallest bit of gold, it might be time to consider selling it.

Cash for Your Gold is well-positioned to facilitate such a sale – whether you wish to simply sell scrap gold or wish for an item to be recycled in some way, we’ll be happy to help, in this turbulent time.

COVID-19 continues to rattle markets

At the last estimate, there are over 25,150 cases of COVID-19 in the UK (as of 31st March), having effectively doubled in less than a week.

Assets such as stocks and shares can’t thrive in an atmosphere of economic uncertainty, as people stay indoors and avoid spending time outside the home. If you find yourself spending more time around the house, it might be time to re-examine any pieces of scrap gold lying around, as they could now be worth a great deal.

Cash for Your Gold has paid out over £30 million over the years, thanks to sales of scrap gold. Just one gram of 9-carat gold could yield a price of as much as £15 – imagine what an even larger item at a higher purity could yield.

Recycling your scrap gold

One of the issues with jewellery is that it is not free from VAT – investment gold, on the other hand, is VAT free. To realise the full value of a gold item, you may sell it to us, and we can explain how to reinvest the proceeds into a gold bar or coin through our sister site https://www.ukbullion.com/.

The choice is yours – if you wish to get a valuation on your gold items, you don’t even have to send them to us just yet. Our Gold Scrap Calculator can give you a free valuation from the comfort of your own home. All you need to know is the weight in grams as well as a rough idea of the item’s carat or purity.

Cash for Your Gold invites you to get in touch, if you wish to realise the value of any scrap gold items you find around the house. There’s never been a better time to do so, as prices remain close to record highs, especially as COVID-19 continues to cause investors to pull away from the stock market and into safe havens such as gold.

Call us on 01902 623 253 if you would like to make an enquiry about a possible sale soon.

Scrap Silver Could Outshine Gold in 2020

Much has been said in recent months about the profitably of selling scrap gold, and it’s no surprise – gold scrap prices are hitting almost unprecedented levels, and anyone with a bit of scrap gold lying around has been cashing in.

But have you considered what a golden – or should we say silver – opportunity it would be if you happened to find some scrap silver lying around, too? 

Scrap silver is poised for a rally 

The prices of gold and silver historically rise in tandem, but the price of silver has been unusually disconnected from gold since 2011. Prices for scrap gold have been generally stable over the last eight years, but silver prices have more than halved since peaking in April 2011. 

This trend has persisted over time, meaning silver is significantly undervalued relative to gold. It’s very unusual to see scrap silver looking so inexpensive relative to its yellow cousin. If some estimates are correct, the ratio will eventually return to its long-run average, if some estimates are correct. This could make scrap silver jewellery and other items such as cutlery or ornaments much more valuable.

Sell scrap silver today 

At present, scrap silver items weighing 100 grams with 999.0 purity could earn you as much as £35.64 each. If prices are bottoming out, with the prospect of a great silver bull market in the coming years, you could expect to make even more when you sell. 

Cash for Your Gold accepts not just gold but silver scrap items of all shapes and sizes, too. We accept silver jewellery, coins, cutlery, even photo frames, candlesticks and, of course, bullion. 

Silver is often viewed as cheaper and generally less profitable to sell than gold, but in the past, it has shown far greater price volatility. This means every upswing in value can yield significantly greater gains when you sell scrap silver than you might have seen, if you had simply stuck to gold. 

Considering selling scrap silver? 

Cash for Your Gold should be your first port of call if you’re considering scrapping silver. We are specialists in both scrap gold and scrap silver, having worked in this sector for a number of years. 

If you wish to sell scrap silver, all you need to do is fill in our seller form and provide us with some basic information about the items you wish to sell.  

There’s no need to send an item over to us in order to get your free valuation as our scrap silver calculator is updated to reflect live spot prices. All you need to get an accurate reading of what your items could earn you are the weight and an idea about the purity of the item in question.

For more information about selling with Cash for Your Gold, don’t hesitate to call us on 01902 623 253.  

Cash in on the Christmas Gold Rush

The waiting is over, and the general election results are in – a Conservative majority of 80 seats, the largest majority the party has won since 1987. Markets have responded, with the pound rising, causing gold to drift lower somewhat. 

Despite this, gold prices remain elevated compared to levels seen this time last year, offering anyone with a bit of scrap gold the perfect opportunity to make some handsome gains, just in time for Christmas. It might make sense to make the most of high prices while they last, to give you a nice boost, going into year’s end. 

Easy Christmas cash boost 

At Cash for Your Gold, we’ve been tracking the performance of gold prices, through the ups and downs of the election campaign, and have seen how prices have settled at a level close to £1,134 per troy ounce. While it’s not the £1,275 per troy ounce that we saw back in September, gold continues to show great value, especially for those who might be thinking of selling. 

While prices have drifted lower, they haven’t fallen completely into bear market territory. This means if you’ve come to acquire an item you believe to be made of gold, it will still be worth much more than it was last Christmas. An item weighing as little as a gram with 9-carat purity could still be worth as much as £13.25, at the latest prices. 

Imagine what you could do, if you had that much-needed cash-boost this Christmas, after selling some old jewellery or gold coins. We accept gold scrap items both large and small. 

Check the hallmark if in doubt 

When considering selling scrap gold items, it’s always important to check what the hallmark might say. That’s because precious metals bought and sold in the UK require a hallmark, to indicate that the item has been proven to have been independently assessed for purity. 

Items originating outside the UK might lack a hallmark, so don’t worry if you can’t find one. Cash for Your Gold happily accepts items for testing without hallmarks, to help you work out how pure your item may be. 

Purer gold items can have a high hallmark of as much as 999.99 purity, but this is unlikely to be something you spot in an item you just have lying around. The hallmark is a good way of ensuring that you can identify what you’ve got, and can even help you calculate its worth. 

Our Scrap Gold Calculator can give you an almost-instantaneous reading of your item’s potential value – all you need to know is the purity and the weight of the item, and the calculator will do the rest. This means you can roughly estimate what you can expect to make from a gold scrap sale, before having to send a single item to us by post. 

If you’re curious about selling gold, don’t hesitate to get in touch with us, and we’ll be happy to answer any queries you may have. 

Have a Merry Christmas and a happy 2020! 

Festive Season 2019 Opening Hours & Posting Details

Seasons Greetings To All Our Customers

The Cash For Your Gold office will be closed for the festive period from 4:30pm on Friday 20th December 2019 to 9am on Friday 3rd January 2020. Our valuations team will not be available to take calls, answer emails or to accept appointments during this period.

We advise customers not to send parcels to us during this period as we will not be receiving mail until our return.

To ensure we receive your parcels before we close for Christmas*, customers will need to send via Royal Mail Insured Special Delivery before Thursday 19th December 2019.

Please note that there may be a couple of days backlog on our return and we will do our best to test and value any parcels received on our return as quick as possible. Please bear with us whilst we get things back to normal.

Cash For Your Gold would like to thank our customers for their business this year and wish you all a Merry Christmas and a Prosperous New Year.

Looking for the perfect Christmas gift for someone special in your life?

Our sister site UKBullion.com has the answer for all your investment gift needs. Take a look at their 2019 Gold Sovereign and the brand new 2020 1oz Gold Britannia, both are CGT FREE and VAT FREE products and are great presents for loved ones looking to start or expand their investment portfolio. They also have a range of gift boxes that really put the finishing touch to your bullion gift and are made available for you when adding your items to the cart.

*Delivery is dependant on Royal Mail’s ability to deliver parcels in their agreed time frame. We are not responsible for Royal Mail’s service and cannot guarantee delivery times during the festive period.

Land of the Rising Sun Sees Value in Recycled Gold

It might sound unbelievable, but your smartphone is like having a miniature goldmine right in your pocket. What do we mean by this? The average smartphone is estimated to contain small traces of gold and other precious metals.

A BBC News story in 2014 revealed that a pile of 35-40 smartphones could yield as much as one gram of gold alone. It might not sound like much, but it just goes to show how much hidden value is right under your nose. Read on to learn more about how the Japanese used this information to recycle gold with great success.

Japanese gold recycled into medals.

In less than a year’s time, Japan will be hosting the Summer Olympics in Tokyo. For a number of years, the Japanese government has led an innovative campaign to persuade millions of Japanese citizens to hand in unwanted electronic devices. The campaign doubles as a bid to not only save the environment, but to help make sure the 2020 Tokyo Olympics can offer a whole host of shiny gold, silver and bronze medals.

Between April 2017 and March 2019, as many as six million smartphones and other electronic items were recycled, to produce 5,000 Olympic medals. Just think – all that scrap gold could have easily ended up remaining locked away in millions of homes across the country or lying in a landfill site.

This story highlights just how much gold can end up in everyday items, in the most unlikely of places. But don’t be fooled – if we stopped extracting gold from beneath the earth, and relied solely on the recycled gold from recycled electronic items, it’s estimated that we’d run out of gold within just 23 days.

Great value in recycling scrap gold.

What can we learn from the Japanese about recycling scrap gold? You might be interested to know that here at Cash for Your Gold, we can guarantee that any item of scrap gold you sell to us can be melted down, if you wish. Perhaps you’ve found an old family heirloom, but don’t like the idea of it simply being passed around from person to person.

When selling your scrap gold, why not ask for it to be completely melted down and reshaped into something new? Cash For Your Gold is able to offer as much as £13.27 for just a gram of 9-carat gold, and we accept a variety of items, whether that’s old jewellery, coins or bullion bars, just to name a few forms of scrap gold.

Use our Hallmarks guide, to help determine the purity or carat of your item. If you feel ready to make a sale of scrap gold, feel free to get in touch today – we look forward to helping you with any queries you may have.