Gold Just Fell From Its Record High — Should You Sell Now?
Gold hit a record in March 2026 and is now about 22% below it — yet still up roughly 70% since January 2025. If you're thinking of selling, here's an honest specialist view.
Gold has had a dramatic year. After hitting a record high in March 2026 it pulled back through the spring, and sellers everywhere are asking the same question: is now still a good time to sell gold, or should I wait? Here is an honest answer from a specialist who values gold every day.
Quick answer: sell now or wait?
Gold pulled back from its March record, but it is still historically very high. For most people selling gold jewellery, scrap or coins, prices remain excellent right now — a pullback from a record is not a crash.
If you need the money or the pieces hold no sentiment, today's level is a strong time to sell. If you can wait and are speculating on bullion, that's a different calculation. Check the live gold price and our gold price calculator for today's exact figures before you decide.
Gold sits around $4,022/oz as of 21 July 2026 — about 22% below the 2026 record, but still roughly 70% up on January 2025. Always verify the live price on the day you sell.
What happened to the gold price
The move, in plain terms: gold ran to a record ~£3,978/oz on 2 March 2026 (a shade over $5,300), then slid through the second quarter. As of 21 July 2026 it sits at about $4,022/oz — roughly 22% below that record, and broadly flat over the past fortnight.
Record → Q2 pullback → a flat July. Verified 21 July 2026. Gold moves daily — always confirm the live price on the day you sell.
The number that actually matters to a seller: despite being 22% off the top, gold is still up roughly 70% since January 2025. Silver has fallen harder from its own peak — down about 44% — yet remains up over 130% across the same period. If you have held gold for two years or inherited it, you are sitting on a very large gain even after the correction.
The counterintuitive bit: a war that pushed gold down
Gold is supposed to rise when the world gets frightening. This year it did the opposite, and it is worth understanding why — because it tells you something about what happens next.
When the US–Iran conflict escalated, oil prices surged. Higher oil feeds straight into inflation expectations. Higher inflation expectations forced markets to price out the interest-rate cuts they had been banking on — and at points to price in rate rises instead. Gold pays no interest, so when rates are expected to go up, gold becomes relatively less attractive and money leaves it. The war raised the very thing that hurts gold.
Sell now or wait? The honest answer
No one can time the top — not us, not anyone. What the numbers do say: today's level is still dramatically higher than any point in 2023–24, and roughly 70% above where gold sat in January 2025. You have missed the peak; you have not missed the run. If you're selling because you need or want the cash, current levels remain excellent by any historical standard. If you're holding speculatively, that's a bet on direction we won't pretend to predict — we'll simply give you a live figure so you know exactly what "today" is worth. (Full disclosure: we buy gold, so read our view knowing that — it's also why our number is a real, payable offer rather than a talking point.)
Is it still a good time to sell gold?
Honestly? For most sellers, yes. We would rather tell you the truth than push a sale: a pullback from an all-time high still leaves prices excellent by any historical standard. The people who benefit most from selling now are those with scrap, broken or unworn gold, inherited pieces they won't keep, or coins bought years ago — all of which are worth far more today than for most of the last decade.
Who might wait? Only those actively speculating on bullion who believe gold will make new highs, and who don't need the funds. If that's not you, the sentimental and practical case usually points to selling into today's strength. Start with sell your gold for how it works.
What your gold is worth today
Gold jewellery is valued on its pure gold content — the carat (9, 14, 18, 22 or 24) tells you the proportion of pure gold, and we pay on that. At the July 2026 spot level, the approximate scrap value per gram works out as:
| Carat | Purity | Approx. £ per gram* |
|---|---|---|
| 9ct | 37.5% | £36 – £37 |
| 14ct | 58.5% | £56 – £57 |
| 18ct | 75.0% | £72 – £73 |
| 22ct | 91.6% | £89 – £90 |
| 24ct | 99.9% | £96 – £97 |
*Illustrative, based on ~£3,045/oz (9 July 2026). Gold moves daily — check the live gold price and calculator for today's exact per-gram figure before selling.
Want to see the maths for a specific piece? Use our gold price calculator, compare carats in 9ct vs 18ct vs 24ct — which pays more, or read how much 1g of 9ct gold is worth. We also buy real gold jewellery and watches outright — a live cross-section of the kind of gold pieces we handle:
Sovereigns, Krugerrands and coins
Gold coins are among the easiest things to sell because their value is almost pure bullion. UK sovereigns and Britannias have the added advantage of being CGT-free legal tender. See sell gold sovereigns for current rates, or sell Krugerrands for the world's best-known bullion coin. Holding 22ct or Asian gold? Our selling 22ct / Asian gold guide covers the higher purity and the premium it commands.
Scrap, broken and inherited gold
You do not need pristine jewellery to sell. We buy scrap and broken gold — odd earrings, snapped chains, bent rings — at the same transparent per-gram rate; see scrap gold price per gram and sell broken or scrap gold jewellery. If you have inherited a collection, our selling inherited gold (probate guide) explains valuation for probate and how to sell sensitively. You can also just sell your gold jewellery directly — and if the drawer clear-out includes silver, our scrap silver value guide covers that side too.
How We Value and Pay
Transparent, tested and fast — no guesswork and no pressure:
- XRF tested — We verify the exact carat with non-destructive XRF analysis — no acid, no damage.
- Transparent per-gram — Weighed in front of you and priced against the live gold market on the day.
- Same-day payment — Agreed price paid the same day, by bank transfer or cash within limits.
- Free insured collection — Can't visit? Free insured postage or collection for larger lots, fully covered.
By appointment in Mayfair and Braintree — see sell gold in Braintree or where to sell gold in Essex. We also buy platinum.
Explore Further
Frequently Asked Questions
Selling gold in the UK, July 2026.
Should I sell gold now or wait?
For most sellers, now is still a strong time. Gold pulled back ~16% from its March 2026 record then rebounded in early July, and remains historically very high, so scrap, inherited or unworn gold and old coins are worth far more than for most of the last decade. Only active bullion speculators who don't need the funds might choose to wait. Check the live price on the day.
How much is 9ct gold per gram today?
Based on a spot of around £3,045/oz (early July 2026), 9ct gold is roughly £36–£37 per gram. Gold moves daily, so use our live gold price and gold price calculator for today's exact figure before selling.
Do you buy scrap and broken gold?
Yes. We buy scrap, broken and odd pieces — snapped chains, single earrings, bent rings — at the same transparent per-gram rate as wearable jewellery, tested by XRF and paid the same day.
How do I sell gold sovereigns?
Sovereigns are quick to sell as near-pure bullion and, as UK legal tender, are free of Capital Gains Tax. See our sell gold sovereigns page for current rates, or bring them in for a live valuation.
Do I pay tax when I sell gold?
It depends. UK sovereigns and Britannias are CGT-free; other gold may be liable on any gain above your annual allowance. See our guide to tax on selling gold and how much gold you can sell without ID. This is general information, not tax advice.