Gold price: at record high – Should the germans sell it?

Whether jewelry, tooth gold, bars or coins, the gold price has currently reached its highest level since 2011.

Is gold currently being sold or bought?
“At the beginning of Corona, we had a fairly high demand for gold in our branch and could hardly meet it,” says Thomas Meermann, spokesman for Sparkasse Lüdenscheid. Like many financial institutions, Sparkasse sells gold or mediates business to the Hessische Landesbank. However, only to customers to avoid possible money laundering. Demand is still high, but gold is now more readily available, explains Meermann. Bars are also more popular than coins – in particular, 50 and 100 gram bars are in demand. The amount of returns is in the normal range, but returns are generally less common than gold purchases.

What should you watch out for when selling old gold?
The bank only accepts coins and gold bars. If you want to sell your gold jewelry or tooth gold, for example, you can contact gold buyers. Sometimes jewelers also accept gold jewelry, but not all. Many point this out with a sign at the entrance to the store. But what should I watch out for if I want to sell old gold, for example in the form of jewelry? The consumer advice center gives tips. The advice center in Lüdenscheid refers to the financial expert Dr. Ralf Scherfling from Düsseldorf.