Since Friday, May 26, 2023, the price of gold has been at historic highs with 1,816 euros per ounce (28.35g). In this context, many French people sell their old jewelry and old coins to get some cash.
Elisabeth, a 72-year-old retiree, took the plunge this Wednesday, May 24. She deposited scraps of jewelry at the Comptoir national de l’or: bits of chain, mismatched earrings… “They weren’t reusable as such and had no emotional value. In the end, I am told that instead of letting them sleep in a corner, it could come to bail out my accounts”, confides the septuagenarian to our colleagues from Parisian. She leaves with nearly 2,500 euros in her pocket. A nice sum that attracts more than one in specialized shops.
In the context of rising prices, many French people are selling their gold. “When the price goes up, we see sales records: people see the opportunity to sell their jewelry and take their earnings”, analyzes Jean-François Faure, president of the Aucoffre.com platform, for Le Parisien . In the 107 branches of the special “Gold in cash” network, sales increased by more than 10% compared to 2022.
If we are witnessing an increase in the number of sales, this is also the case for purchases. At the Comptoir national de l’or, purchases increased by 13% at the start of 2023. The rise in prices is attracting. Geopolitical crises and events also encourage investment. During the Covid epidemic, gold prices had reached their all-time high (1,870 euros in March 2022).
“For people who invest part of their savings there, it is the ultimate guarantee of being protected in the event of a major problem: a fall in the financial markets, monetary crises, wars… They say to themselves: Whatever happens, I will always have that,” explains Laurent Schwartz, president of the Comptoir national de l’or, to our colleagues from Parisian.
Find out in our slideshow below for how much gold coins, bars and bars are selling for. What are the prices for gold items this month of May 2023?
