Gold and silver prices have risen to new all-time highs, prompting experts to urge ordinary Brits to take a closer look at what they already own, including forgotten pieces of jewelery stashed in drawers and boxes at home.
Gold climbed to $4,603.87 while silver hit $84.69 as investors moved to traditional safe-haven assets amid rising geopolitical tensions over Iran, fears of possible U.S. military action and new instability in Washington following the launch of a criminal investigation into Federal Reserve Chairman Jerome Powell.
While the rally has captured the attention of global markets, industry experts say the price rise is creating tangible opportunities for the average citizen, not just professional investors.
Jim Tannahill, managing director of London-based jeweler Suttons and Robertsons, said the current market offers real options for people who already own gold or silver, whether knowingly or unknowingly.
“These all-time highs present real opportunities for the average person,” he said. “If you already own gold or silver, be it physical or digital, these tiers give you a choice. You can sell and make a profit or even use what you own as collateral for a short-term loan without having to permanently part with it.”
“It’s also worth checking drawers and jewelry boxes. Old, broken or unused jewelry can be worth far more than people expect at today’s prices. And if you’re unsure whether something is real gold, you can usually test it for free and grade it by carat.”
Tannahill added that exposure to precious metals does not necessarily mean purchasing gold bars or financial instruments. Well-bought used gold or platinum jewelry is often overlooked, but can combine joy with long-term value. In the UK, many pieces of jewelery sold for less than £6,000 are exempt from capital gains tax, while British legal tender gold coins such as sovereigns are exempt altogether.
However, financial advisors are cautioning those tempted to chase the rally by investing directly in metals at record prices.
Samuel Mather-Holgate, managing director of Swindon-based Mather and Murray Financial, warned that gold and silver did not generate returns like traditional investments.
“With precious metals prices at all-time highs, it is tempting to jump in,” he said. “But unlike stocks or bonds, these assets do not compound or generate returns beyond capital growth. The risk lies in buying at the top.”
Instead, he suggested that investors should consider funds or companies operating in this sector. “Gold and silver mining companies, for example, can provide exposure while benefiting from the fundamentals of the business. In an increasingly dangerous world, precious metals remain a useful hedge – but how you access them is important.”
David Belle, founder and trader of Fink Money, shared this view, saying he prefers investing in companies rather than commodities themselves.
“When you buy a commodity you are completely at the mercy of macro forces,” he said. “In a company, management, cash flow and balance sheets work to create value. This provides a more structured way to express an opinion about the market.”
Others warned that strong momentum could quickly reverse. Anita Wright, a licensed financial planner at Ribble Wealth Management, said record highs often lead to emotional decisions.
“It’s exciting that gold and silver are hitting new highs, but right now people need to keep perspective,” she said. “Prices can overshoot and then rebound sharply due to profit-taking.
“Inspecting jewelry boxes can be worthwhile, but do so carefully. Separate items by stamp, weigh them, and get more than one offer from reputable buyers. Know whether you’re selling for scrap value or as a collector’s item, and remember that once an item is gone, its sentimental value cannot be recovered.”
Rob Mansfield, an independent financial advisor at Rootes Wealth Management, added that chasing recent gains is rarely a sound long-term strategy.
“Before people buy something that has already risen sharply, they should think carefully about what their goals are and what they can afford to lose,” he said. “There is no guarantee that today’s rally will continue. If you want to gain exposure, funds or ETFs linked to mining companies or metals may offer a more balanced route.”
As global uncertainty continues to drive safe-haven demand, there is little sign of the gold and silver rally abating. But experts agree that despite the opportunities available, discipline and perspective remain essential.
