Gold has long been considered a ‘safe haven’ when it comes to investment, especially during times of economic or political uncertainty. For centuries, people around the world have turned to gold to preserve wealth when other markets are unstable. Here at Devon Gold, we help customers across the UK sell their scrap gold at competitive prices and understanding the factors that influence gold’s value can help you make informed decisions about when to sell. Selling scrap gold during times of political or financial uncertainty allows people to get the most out of higher prices.

Brexit: a surge in demand

The 2016 Brexit vote created significant economic uncertainty in the United Kingdom. Investors were unsure about the future of trade, currency stability, and economic growth, which caused confusion in the stock markets. During periods like this, gold is seen as a safer alternative to other financial assets. Following the Brexit vote, gold prices in the UK increased significantly. People who held gold jewellery, coins, or even bullion suddenly found that their assets were worth more than ever before. This spike showed the true advantage of gold. Unlike cash or stocks, the value of gold often rises when other markets fall.

COVID-19: gold as a safe haven

The COVID-19 pandemic was another major event that affected global markets. In early 2020, stock markets around the world dropped dramatically due to lockdowns and the uncertainty about future markets. Investors once again turned to gold, which pushed prices to historic highs in some cases. For everyday people with old or unwanted gold, this created an excellent opportunity. Items that may have seemed insignificant, such as broken chains, single earrings, dental gold, and old coins suddenly had increased drastically in value. By selling scrap gold during this period, many people were able to benefit from the strong market demand.

Other global events

Historically, events such as the 2008 financial crisis, global political instability, and even changes in bank policies have all caused gold prices to rise. The nature of gold makes it a preferred advantage during periods of uncertainty to capitalise on the market uncertainty. Unlike currencies and stocks, which can lose value quickly, gold maintains its worth over time – which is one of the main reasons people sell their scrap gold!

If you have scrap gold sitting unused at home, whether this be broken jewellery, gold coins, dental gold, or old chains, current market conditions make selling an attractive option. Gold demand remains strong today. Here at Devon Gold, we make selling simple, safe, and transparent. We provide competitive valuations for all forms of scrap gold and ensure you receive the best possible price, whether you sell in person or through our secure online service.

Major global events highlight the importance of gold as a stable and trusted asset. By selling your scrap gold to us at Devon Gold, you can take advantage of strong market prices while turning unwanted items into cash. Visit our website today to request your Free Selling Pack or visit our store today to make the most of the current market.