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Is now a good time to sell my scrap gold
Gold Prices Remain Near Historic Highs: Why Now Is Still a Good Time to Sell Scrap Gold
Gold has experienced one of the strongest bull runs in modern history, reaching record prices throughout 2025 and 2026. While prices have pulled back slightly from their absolute peaks, gold remains at historically elevated levels, creating a unique opportunity for Australians holding unwanted jewellery, broken chains, old rings, dental gold, coins, or other precious metal items.
Many people assume that if gold is no longer at its all-time high, they have missed the best time to sell. However, market data suggests the opposite. Gold prices remain exceptionally strong compared with historical averages, and several major factors continue to support high valuations.
Gold Is Still Trading Near Record Levels
According to the World Gold Council, the average gold price during the first quarter of 2026 reached a record quarterly average of US$4,873 per ounce. Gold also reached an all-time high above US$5,400 per ounce during January 2026 before undergoing a moderate correction. Despite that pullback, prices remain substantially higher than they were just a few years ago.
Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026
Reuters also reported that gold surged above US$5,100 per ounce during January as investors sought safe-haven assets amid geopolitical uncertainty and market volatility.
Source: https://www.reuters.com/business/finance/gold-races-5100-record-peak-safe-haven-demand-2026-01-26/
For Australians, this has translated into exceptionally strong local gold prices, driven by both international demand and movements in global currencies.
Current Australian gold pricing can be viewed at:
https://www.abcbullion.com.au/products-pricing/gold
Central Banks Continue Buying Gold
One of the strongest long-term supports for gold prices is continued buying by central banks around the world.
The World Gold Council reported that central banks purchased an estimated 244 tonnes of gold during the first quarter of 2026, the strongest quarterly pace in more than a year. Countries including Poland, China, Uzbekistan and Kazakhstan have continued adding gold to their reserves.
Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026/central-banks
When central banks increase their gold holdings, it signals confidence in gold as a store of value and provides significant support for the broader market. Unlike short-term traders, central banks often buy with long investment horizons, helping underpin long-term demand.
Global Uncertainty Continues to Support Gold
Gold has historically performed well during periods of economic and geopolitical uncertainty.
Ongoing tensions in the Middle East, inflation concerns, fluctuating interest-rate expectations and global economic uncertainty have all contributed to sustained investor demand for gold throughout 2026.
Reuters noted that safe-haven demand remains a major factor supporting gold prices despite periods of volatility.
The World Gold Council has also highlighted that heightened geopolitical risk and market uncertainty continue to drive investment demand for physical gold.
Recycling Activity Is Increasing
Another interesting trend is the increase in recycled gold entering the market.
The World Gold Council reported that recycled gold supply rose by approximately 5% year-on-year during the first quarter of 2026. This increase suggests that many consumers are taking advantage of higher gold prices by selling unwanted jewellery and scrap gold.
Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026
Historically, when gold prices reach elevated levels, more people choose to cash in items sitting unused in drawers, jewellery boxes and safes.
Why Selling Scrap Gold Makes Sense Right Now
Many Australians are surprised to discover how much value may be sitting in jewellery they no longer wear.
Common items that often contain significant value include:
Broken gold chains
Unmatched earrings
Damaged rings
Old engagement rings
Dental gold
Gold coins
Vintage jewellery
Gold bracelets and bangles
Inherited jewellery that is no longer worn
The reality is that the gold value remains regardless of whether an item is fashionable, broken or incomplete.
Because gold prices remain near historic highs, sellers are often receiving significantly more for their scrap gold today than they would have received just a few years ago.
If you are considering selling, it is important to choose a buyer that provides transparent testing, accurate weighing and pricing based on live market rates.
For Australian gold sellers, platforms such as Easy Gold provide professional precious metal testing using modern XRF analysis technology and offer pricing based on current market conditions.
Waiting May Not Always Pay Off
While some analysts remain bullish on gold and predict further upside, no market moves in a straight line.
Gold has already experienced periods of sharp volatility during 2026, including significant corrections after reaching record highs.
Source: https://www.reuters.com/world/india/gold-extends-record-run-races-past-5400oz-2026-01-28/
For individuals holding unwanted jewellery solely for its gold value, attempting to perfectly time the market can be difficult. Many sellers instead choose to take advantage of today's historically strong prices and convert unused items into cash while valuations remain attractive.
The Bottom Line
Gold remains one of the strongest-performing assets of recent years. Record quarterly prices, continued central bank buying, strong investment demand and ongoing global uncertainty have all helped keep gold values at historically elevated levels.
Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026
For Australians holding unwanted jewellery, broken gold items or scrap precious metals, current market conditions continue to provide an excellent opportunity to sell.
While nobody can predict exactly where gold prices will move next, today's prices remain near historic highs. For many sellers, that makes now one of the most attractive times in years to unlock the value sitting in old or unused gold.
To learn more about selling gold, obtaining a valuation or understanding how gold is tested and priced, visit:
Disclaimer: This article is for general information only and does not constitute financial advice. Gold prices fluctuate daily and individual payouts depend on purity, weight and market conditions at the time of sale.