As of right now, the price of gold is $2,677 per ounce, close to a record high. Prices have increased over $600 per ounce since the beginning of 2024.

So what do these high gold prices mean for you? Well, it means that now would be a great time to consider selling any gold jewelry you may have in your jewelry box that you no longer wear. Bring your outdated gold jewelry to a jeweler you trust to receive a cash offer for its scrap value.

And if you’re in the market for new gold jewelry, you may want to consider buying already-made gold pieces instead of having something created from scratch (at least for the time being). Look for deals on gold jewelry that may have been created years ago and are under-priced given today’s gold prices. In addition, you might also want to consider selecting a different metal, like platinum or sterling silver, for your jewelry piece.