Diamonds may be forever, but in today’s market, gold is proving to be the more reliable investment especially in Australia’s secondary market.

With gold holding strong at $5,128 per ounce, the metal is now worth more than many smaller precious stones. For years, the stone was considered the most valuable part of a jewellery piece. Now, rising gold prices have tipped the balance, making gold the star attraction.

The steady demand for gold is bringing more Australians to sell their broken, unwanted, or inherited jewellery. While some customers keep their diamonds for remodelling into new pieces, the value of the gold content alone is often enough to make selling worthwhile.

The diamond market, meanwhile, has faced strong headwinds. Since 2022, diamond prices have dropped around 35% due to factors such as slower demand in China and the rapid rise of lab-grown alternatives. Large, high-quality natural diamonds continue to hold value, but smaller stones—especially those competing with lab-grown versions—often struggle to achieve attractive resale prices.

With gold prices at record levels, sentimentality is often set aside. Heavy gold chains, bangles, and antique pieces can yield substantial cash returns while allowing owners to retain the gemstones for future use. In some cases, the gold from one item could pay out thousands of dollars, and the stones could be repurposed into multiple smaller jewellery items.

Buyers are also returning to the market, particularly in the lead-up to the holiday season, as many expect gold prices to climb even higher by year-end. Some analysts suggest a further rally could push prices beyond current levels, creating even stronger demand.

For Australians holding gold—whether in the form of jewellery, coins, or bullion—now is an ideal time to sell to the GoldCompany, Australia’s most trusted precious metal dealer. With expert valuation, instant payment, and top market rates, you can unlock the true value of your gold while keeping the sentimental elements you wish to preserve.