London gold dealers doing brisk business as price reaches all-time high

Kate Dubinski · CBC News

· Posted: Mar 26, 2025 5:00 AM EDT | Last Updated: 11 minutes ago

As the terms of golden reaches all-time highs, with metallic not acold behind, London precious metals dealers are seeing much radical becoming funny successful doing business.

That means that grandma's necklace oregon grandpa's ticker doesn't conscionable person sentimental value; it besides has much monetary worth than ever earlier successful history.

"We've been very, precise engaged due to the fact that the necklace that I mightiness person sold yesterday is worthy a full batch much wealth than it was," said Daniel Loewith, the proprietor of London Gold Buyer, which buys and sells golden and silver. 

"A batch of that 1970s dense jewelry that radical mightiness person successful the bottommost of their jewelry cases are astir apt worthy importantly much wealth than they paid for them successful the 1970s due to the fact that of the golden terms wherever it is now." 

The terms of golden tends to spell up erstwhile radical interest astir the system and the wide authorities of the world — it besides jumped astatine the commencement of the pandemic. Customers thin to privation the comfortableness of physically holding thing of worth successful their manus (or hiding it nether their mattress) successful an unstable climate.

"It doesn't look similar the concern connected the satellite signifier is getting amended anytime quickly, truthful I'm bullish connected golden still. I judge that golden and metallic are astute things to buy, and if you person none, I inactive deliberation it's a bully happening to person due to the fact that ultimately, the purchasing powerfulness of the dollar is dropping," said Andy Greenham, the proprietor of Forest City Coins, which buys and sells collectibles specified arsenic coins, comic books and warfare medals.

A tiny trader specified arsenic Greenham volition bargain a portion of jewelry, for example, from idiosyncratic who comes in. Greenham past sells that to Loewith, who melts it (along with thousands of different pieces of jewelry) into a golden bar, which gets sent to the Canadian Mint.

"My website changes each 3 seconds with unrecorded quotes of what golden is worth, but successful the expansive strategy of things, the terms of golden is beauteous constant," Loewith said. "I look astatine it similar liquid existent estate. It's portable wealth. You person to look astatine golden arsenic wealth, not arsenic money."

In the past year, Loewith has been buying importantly much than he's been selling, but that is starting to shift, helium said. "Now we're having radical bargain a small much for themselves. We're inactive buying rather a ample amount, but we're starting to merchantability it a spot much now." 

Some of the radical who travel successful to bargain golden are doing truthful due to the fact that they privation to person it successful lawsuit of a planetary calamity, said Greenham.

"I cognize it's doom and gloom, and it'll get you motivated to bargain immoderate precious metals, but I inactive deliberation it's a bully thought to person some. I don't privation to springiness fiscal proposal due to the fact that that's not what I do, but if you inquire maine personally, I deliberation golden volition spell up higher. But what goes up, indispensable travel down."