We Shine Some Light On The Best Time To Sell Gold Here In Canada!

There are few factors for Canadians to consider when is the best time to sell gold. Most important factor is the exchange rate. We enjoyed a long period when our dollar was basically at par with US dollar. Then the price of oil went down our economy lost, and our dollar plummeted. During that period gold was pretty steady at first, it lost some of its luster and then gained only about 100 USD per ounce.

In US dollars gold trades right now at $1255 per oz but in Canadian It is whopping $1628. We were at $1700 just a week ago but oil gained and so did Canadian dollar. If we experience the continuous rise of cost of oil, our dollar will get stronger, and price of gold will continue to drop.

If you have any old jewelry that is broken, or you are not using, take advantage of current very high price of gold in Canadian dollars. Act fast before it’s too late.

By: Andy Nowicki @ Tecumseh Gold Exchange