Should You Sell Gold Now or Wait?
Essentially, buyers and sellers set the market price
20/05/2026
If you’re wondering if it is a good time to sell your gold jewellery, you could be forgiven for finding the market rather confusing, as the price of gold appears to fluctuate every time there’s a big headline. Gold tends to get a boost when people feel nervous (wars, market wobbles, banking stress, recession chatter) as it is a liquid asset that can be converted to cash quickly in times of uncertainty, comforting for people looking for a safe store of value.
A token necklace together with a single matching earring
Essentially, buyers and sellers set the market price. The market trade between banks and dealers (especially in London), and futures trading in New York also heavily influences the live prices you see on screens. As well as the LBMA Gold Price reference point, which is set twice daily via electronic auction, “spot” prices are basically the best real-time estimate of where wholesale gold is trading right now, then converted into pounds, euros, etc., using exchange rates. If you’re selling coins or jewellery, the price you may get will usually be higher than the spot price, because buyers are additionally paying for age, rarity, and condition rather than a simple commodity.
Tiffany & Co. - a ‘Vannerie’ necklace
Currently, several factors are influencing the gold market which had a spectacular year in 2025 with gold gains reaching the highest level since 1979 followed by a very strong start to 2026. However, trade tensions, sanctions and energy shocks stemming from the current and ongoing conflict in the Middle East have resulted in economic uncertainty, which makes investors nervous and plays havoc with the price of gold.
Gold is priced globally in dollars, and a weaker dollar can push the gold price up. The dollar has been weakening for some time now, hitting a four-year low in January 2026. Although this decline has slowed, it remains 10% down on previous levels against other currencies such as the euro and the yen, which is good news for gold prices.
A gold charm bracelet with flat-curb link chain
At the same time, traditional wisdom holds that when interest rates look likely to rise, savings accounts offer tempting returns and, subsequently, gold appears less appealing as an investment. When markets expect rate cuts, the gold market often picks up. However, evidence from the COVID-19 pandemic indicated the opposite as the threat of economic collapse caused gold prices to soar. Although predictions for 2026 indicated that the Bank of England would cut interest rates, which now seem, at best, unlikely, the global outlook suggests that gold will continue to hold strong.
At times like this, expert advice is paramount and can help you to make sense of often conflicting news reports. The team here at Dawsons is highly experienced in evaluating gold using market trends, spot prices, whilst also considering the intrinsic value of any specific item(s).
If you are contemplating selling any gold, our friendly team will provide you with a complimentary valuation and advice on the best time to sell. Our aim is to provide you with confidence in an uncertain and fast changing market.
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