Gold and silver prices have surged to historic levels, offering opportunities for individuals to review their existing holdings, experts say. Gold reached $4,603.87 per ounce while silver climbed to $84.69, as investors turned to safe-haven assets amid rising geopolitical tensions in Iran, concerns over possible US military action, and instability in Washington following a criminal probe into Federal Reserve Chair Jerome Powell.
Industry specialists note that the rally is not just relevant to professional investors. Jim Tannahill, managing director at London jewellers Suttons and Robertsons, said the spike presents tangible options for those who already own precious metals, including items tucked away in drawers or jewellery boxes.
“These all-time highs are creating real opportunities for everyday people,” Tannahill said. “If you already hold gold or silver, you can sell to lock in profits, or use it as security for a short-term loan without parting with it permanently. Old or unwanted jewellery can be worth far more than expected at today’s prices.”
Tannahill advised that second-hand gold or platinum jewellery can also serve as both a collectible and a store of value. In the UK, items sold for under £6,000 are generally exempt from capital gains tax, while legal-tender gold coins, such as Sovereigns, are fully exempt.
Despite the opportunity, financial advisers warn against rushing to invest at record levels. Samuel Mather-Holgate, managing director at Swindon-based Mather and Murray Financial, cautioned that precious metals do not generate income like stocks or bonds.
“With prices at all-time highs, it’s tempting to jump straight in,” he said. “But gold and silver only offer capital growth. The risk is buying at the peak. Investors may be better served by funds or mining companies, which provide exposure while benefiting from business fundamentals.”
David Belle, founder of Fink Money, echoed this, noting that company investments offer structure and oversight that commodities alone cannot. “With a company, you have management, cash flow, and balance sheets working to create value,” he said.
Advisers also urged careful handling of any personal gold or silver sales. Anita Wright, a chartered financial planner at Ribble Wealth Management, said consumers should separate items by hallmark, weigh them, and seek multiple quotes to avoid mistakes. Rob Mansfield of Rootes Wealth Management added that chasing short-term gains is rarely prudent.
“Before buying after a sharp rise, people should consider objectives and what they can afford to lose,” Mansfield said. “Funds or ETFs linked to miners may offer a more balanced approach.”
The ongoing geopolitical uncertainty continues to drive demand for precious metals, and while opportunities exist for both collectors and investors, experts stress caution, research, and measured decisions remain essential.
