Keep an eye on fluctuating prices
You should know how fast the price of your gold can change because it is common for people to compare prices when they decide to buy gold from a dealer and individual. If you have no idea about current prices and have just a set a price tag, chances are you will lose or gain. This situation is tricky and carries a lot of risks. If you have considerable amount of gold, you’d better keep track of gold prices. You should read financial news and data published on a regular basis in newspapers and on the Internet.
Another way to determine the exact price of your gold is to go to several dealers and get a quote. You will notice that every dealer will ask for different prices, so this can give you an idea of how much you should price your gold that can give you better return on your investment.
Wait for suitable time
As mentioned earlier, gold prices can fluctuate dramatically, and they might hurt you if you sell your gold at a time when the market is low. Because the market may shoot up the next day, making you regret your decision to sell the gold too early. So you have to wait for the suitable time.
If you are not in a hurry and can wait up to a couple of months or a year, you’d better wait and see what goes on the gold market. Keeping an eye on day-to-day fluctuations on gold prices will put you in a position where you can price you gold the right way, giving yourself maximum return.
Go to several dealers
Spend a day or two meeting several gold dealers and give them a quote. You may find that the prices you are asked vary greatly. You can then come up with an average price of your gold and sell.