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How Gold Buyers in Arizona Determine the Value of Gold

Are you the owner of gold jewelry? Are you interested in selling it to make a little extra cash for that next vacation or shopping spree? If so, then it can be helpful to understand how gold buyers in Arizona determine the value of gold pieces. By being knowledgeable in the process of pricing gold, you can help yourself receive the best possible price when selling your gold.

Priced Per Ounce

It is important to find an experienced and professional buyer to help you determine an accurate price for your gold pieces. Gold is priced per pound, and that price is determined by current market value. In turn, a process called the London gold fix determines the market value. This process involves five different banks around the world that are members of the London Market Bullion Association. These banks are ScotiaMocatta in Canada, HSBC in Hong Kong and the UK, Deutsche Bank in Germany, the Societe Generale in France and Barclays in the UK.

A Unique Process

These five banks determine the price of gold two times during each business day. When one bank proposes a price that is close to the current value, the other banks simulate transactions to decide if the proposed price is accurate. Gold buyers in Arizona can then use this market value to determine the price of your gold jewelry and other pieces.

Finding reputable gold buyers in Arizona can help you easily navigate through the complicate process of determining the market value of gold. These experienced professionals can find the value and best price for your gold, making sure you are treated with honesty and professional service. Call (480) 949-9299 today to learn more about gold buyers in Arizona from the GIA gemologists at Ralph Mueller & Associates, an established jeweler that has been buying diamonds in Arizona for nearly three decades.