On December 11, the spot price of gold on the COMEX global trading platform settled at $4,275 per ounce, not far from its historical high of $4,379 on October 17. The three-month outlook for gold prices is mostly bullish, meaning that market analysts expect them to hover around the all-time high as we get closer to the New Year. Saying that this is a good time to sell your gold is an understatement; we've never seen gold trading at such high prices, and you never know how long this trend will hold to sell your gold.
Understanding Current Gold Prices
If your jewelry collection can yield at least 31.10 grams of pure gold, you are holding a troy ounce valued at $4,275. This means you could get a nice stack of cash if you sell your gold today. Let's say you have a few chains, rings, and pendants that can yield 1/2 troy ounce of 14-karat gold; they would be equivalent to a spot price of $2,137 on December 11.
Gold pricing has been surging in recent years for various macroeconomic and speculative reasons. To put current prices into perspective, let's look back at December 2020, the first holiday season of the COVID-19 pandemic, when gold was trading at $1,895. After two years of sideways pricing, gold went on a bearish streak that lowered its price to $1,632 in October 2022. Prices have been skyrocketing since then, and it is important to understand why.
Gold is the ultimate flock-to-safety asset; it is where investment banking firms park their capital when economic conditions don't align with Wall Street trading activity. When the post-pandemic recovery of the American economy began in March 2022, major investors left the safety of gold and flocked to Wall Street, thus causing prices to drop. After two quarters of strong business activity and stock market optimism, cracks began to appear in the economic recovery scenarios.
Even as rapid consumer price inflation and stagnant wage growth became major concerns, Wall Street was roaring with heavy trading volumes, completely disconnected from economic reality. When this happens, major investors fear instability and flock to the safety of gold, thus pushing prices higher. Uncertainty among investors has been at an all-time high in 2025 because of the import tariffs war, pesky inflation, and lackluster employment reports.
Turning Troy Ounces Into Cash In Troy
As we continue to navigate the strongest gold market in history, we invite you to bring your gold to our store for an appraisal. Our secure and transparent gold pricing process results in same-day competitive offers and fast payouts. We love helping residents from Madison Heights, Royal Oak, and Sterling Heights get cash for jewelry pieces that were almost forgotten.
Our passion for jewelry extends to the gold and silver markets. When you come for an appraisal, you don't have to deal with pressure or gimmicks; we give you an honest valuation, a firm offer, and a market opinion. We can also negotiate exchanging your gold for handcrafted rings and other pieces in our collection. Visit our store today and learn about the true value of your gold.
