The two best ways to turn gold into cash

Many people are taking advantage of the sky-high price of gold and trading in their old jewellery for cash. But how do you go about it, and what are the pitfalls?

When money gets tight, selling off household clutter can be a great way of making some cash. Car boot sales and eBay for example have been doing a roaring trade in recent months.

Now you can cash in on unwanted jewellery too - adverts from companies wanting to buy your gold are springing up everywhere and gold parties are becoming increasingly popular. But what are the best ways of going about it?

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.