Gold watch owners 'can expect high valuations'

First published: 14-12-2009

Many people who want to make their money back in the recession and opt for cheaper alternatives may consider trading in their gold watch for a different timepiece, it is said.

As a result, individuals wanting a Black Dice watch or an Accurist offering may look to trading in their flashier clock for a stylish modern offering as well as cash, according to Centretown News.

Owner of local business Gold Reflection Jewellers Steve Saikley said that twice as many people are selling used gold to his store compared to the previous year.

He explained that it was likely due to the ridiculous surge in the market, which has seen the cost hitting a peak of nearly $1,200 (£740) an ounce earlier this month, rising from just below $800 (£493) per ounce in January 2008.

Then again, gold is not alone in its favourability among investors, with silver also putting in a good show among buyers across the world, market analysts have noted in recent weeks.

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